National News
GJC celebrates 25 years of gold hallmarking in India with felicitation of Union Minister Pralhad Joshi
In a momentous occasion for India’s jewellery sector, the All India Gem and Jewellery Domestic Council (GJC) marked 25 years since the introduction of gold hallmarking in India with a grand celebration and felicitation ceremony honoring Pralhad Joshi, the Hon’ble Union Minister of Consumer Affairs, Food & Public Distribution, and Minister of New & Renewable Energy at GJS 2025
The event served not only as a tribute to the journey of hallmarking in India but also as a platform to chart an ambitious roadmap for the future, with a strong focus on expanding hallmarking coverage and fostering technological innovation.
In recognition of his continued support and instrumental role in advancing hallmarking reforms, Pralhad Joshi was felicitated by GJC for his leadership in steering policies that balance consumer protection with industry development. His ministry’s efforts, in collaboration with the Bureau of Indian Standards (BIS), have been central to enhancing transparency and quality assurance in the jewellery sector.
In his address, Shri Joshi reiterated the government’s unwavering commitment to strengthening consumer trust while also simplifying compliance for jewellers. He emphasized the hallmarking system as a critical trust-building mechanism and a significant step toward formalizing and modernizing the Indian gold market.
One of the most significant announcements of the event was a joint goal set by the Ministry of Consumer Affairs, BIS, and the jewellery industry: to expand mandatory gold hallmarking to 500 districts across India by the end of this financial year.
This expansion aligns with the broader objective of ensuring uniform quality standards nationwide, preventing consumer fraud, and integrating small and medium jewellers into the formal economy. GJC pledged its full support to assist local jewellers in meeting compliance standards and making hallmarking services accessible, especially in tier-2 and tier-3 cities.
In a groundbreaking move to stimulate innovation in hallmarking technology, GJC and BIS jointly announced the launch of a Hackathon aimed at developing a non-destructive testing (NDT) method for hallmarking gold.
This initiative seeks to address a long-standing concern within the industry: the challenge of verifying hallmark authenticity without damaging the piece of jewellery. Currently, traditional methods often involve partial damage or alteration during testing, which discourages on-the-spot verification by consumers and retailers.
The hackathon is open to startups, research institutions, technologists, and innovators across India and will offer funding and incubation support to viable solutions. A successful NDT mechanism would be a game-changer for quality assurance, enabling real-time, damage-free hallmark authentication across retail outlets, trade shows, and even by consumers themselves.
The celebration of 25 years of hallmarking is a testament to India’s evolution into a more structured and credible jewellery market. From its early stages to now becoming an integral part of the industry’s value chain, hallmarking has grown into a symbol of trust, quality, and consumer empowerment.
With the government, BIS, and GJC joining hands to drive expansion and innovation, the next phase of hallmarking promises to be more inclusive, tech-enabled, and consumer-centric than ever before. The GJC’s proactive role in bridging policy, practice, and innovation reinforces its commitment to nurturing a responsible, transparent, and globally competitive jewellery sector in India.
National News
MCX Gold Futures For June Delivery Slip , Geopolitical Uncertainty Keeps Bullion in Focus
International Bullion Markets Remained Volatile As Investors Monitored Developments In US-Iran Negotiations
Gold and silver prices traded lower on Thursday amid easing US Treasury yields and improving global market sentiment, even as geopolitical tensions surrounding the US-Iran conflict continued to influence investor outlook. On the Multi Commodity Exchange (MCX), gold futures for June delivery slipped Rs. 206 to Rs. 1,59,800 per 10 grams, while silver contracts for July delivery fell Rs. 1,350, or 0.5%, to Rs. 2,72,915 per kilogram.
International bullion markets remained volatile as investors monitored developments in US-Iran negotiations. US President Donald Trump indicated that talks with Iran were in their “final stages” but cautioned that failure to secure an agreement could trigger renewed military action, keeping risk sentiment fragile.
Analysts said precious metal prices continue to be supported by concerns over inflation and safe-haven demand. The partial closure of the Strait of Hormuz has sustained elevated crude oil prices, fuelling worries about supply disruptions and inflationary pressures.
A softer US dollar and a pullback in Treasury yields also offered some support to bullion after recent bond market volatility. However, expectations of a hawkish stance from the US Federal Reserve continue to weigh on sentiment, with policymakers signalling that further rate hikes may be considered if inflation remains above target.
Market participants are now closely watching progress in US-Iran talks, movements in crude oil prices, and upcoming manufacturing and services PMI data from major economies for further direction in bullion markets. Domestically, higher import duties on gold and silver are expected to keep demand subdued, with prices likely to remain range-bound in the near term.
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