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
Gold Rebounds in India After Five-Day Slide; Dollar Strength Keeps Pressure Intact
Despite the rebound in retail prices, futures trading remained largely muted.
Gold prices in India posted their first significant rebound in six sessions on Saturday, recovering after a sharp five-day decline that had rattled the domestic bullion market.
The price of 24-karat gold rose by Rs. 2,510 per 10 grams to Rs.163,640 on March 7, according to market data. The recovery comes after bullion prices fell steeply earlier in the week, with gold dropping nearly Rs.11,000 per 10 grams—or about Rs.110,000 per 100 grams—between March 2 and March 6.

Despite the rebound in retail prices, futures trading remained largely muted. On the Multi Commodity Exchange of India, gold futures closed Friday’s evening session almost unchanged at around Rs. 161,675 per 10 grams.
Global cues continue to shape the domestic trend. Spot gold climbed above $5,120 an ounce, lending support to local prices after several sessions of losses.
However, bullion markets remain under pressure from macroeconomic factors. A stronger U.S. dollar and rising U.S. Treasury yields—fueled in part by a rally in crude oil prices and renewed inflation concerns—have dampened investor appetite for precious metals in recent days.
Silver prices have also faced similar headwinds, reflecting broader movements in global commodity and currency markets.
Analysts say the near-term outlook for bullion will largely depend on the trajectory of the dollar and bond yields, which continue to dictate flows into safe-haven assets such as gold.
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