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
Silver jewellery and articles sector shines bright
Driven by affordability, evolving consumer preferences, retailer investment and design-led positioning
India’s silver jewellery and articles sector is doing well despite high prices because consumers are treating silver as an affordable alternative to gold, while retailers are widening the category through gold-plated silver and dedicated standalone stores.
Beyond jewellery, silver articles and artefacts are emerging as an important pillar of India’s broader silver market, supported by strong cultural traditions, gifting habits, and rising premium consumption. From pooja items, idols, utensils, and decorative homeware to corporate gifting and commemorative pieces, silver continues to hold deep emotional and ceremonial value in Indian households.
Silver jewellery’s current momentum appears rooted in deeper structural drivers: affordability, evolving consumer preferences, retailer investment, and design-led positioning. For middle and upper-middle-income households, silver offers entry into the precious metal ecosystem at a fraction of the ticket size, without diluting the emotional equity attached to metal ownership


Market momentum
- Silver jewellery is gaining traction among price-sensitive buyers, younger consumers, and gift shoppers who want style without the cost of gold. Industry commentary points to silver’s role as a daily-wear, lightweight option. Trade‑aligned market assessments (incorporating GJEPC and World Silver Survey data) put India’s silver jewellery and silverware segment at a CAGR of around 4–6% between 2025 and 2029, slightly below but aligned with the broader jewellery market’s 6–7% growth.
Why silver is selling
High gold prices have pushed many buyers toward silver, especially for lower-ticket purchases in the ₹10,000–₹30,000 range. Gold-plated silver jewellery is also popular because it gives a gold-like look at a much lower price, which has helped expand the customer base beyond traditional silver buyers.
Retail expansion
A notable trend is the rise of standalone silver stores and organised silver formats, as retailers see room to build a separate identity for the category rather than treating it as an add-on to gold. This works well in India because silver has strong gifting, fashion, and everyday-wear demand, especially in tier 2 and tier 3 markets.
Retailers are widening assortments to include fashion jewellery, premium silverware, gifting collections, office wear, bridal-inspired silver, men’s accessories, and personalised jewellery.
Organized retail is also improving design innovation, visual merchandising, branding, and customer trust—areas where silver historically lagged behind gold jewellery.

Hallmarking boost
Silver hallmarking has become more credible with the BIS’s voluntary HUID-based system, which began on 1 September 2025 and uses a digitally traceable format with defined purity grades. That should help consumer trust, especially for branded retail and premium silver jewellery.
Import restrictions
The DGFT’s restriction on certain silver jewellery imports, aimed largely at curbing flows from Thailand and some ASEAN routes, has supported domestic players by reducing pressure from imported merchandise.
Silver shines bright
Long-term growth in India’s silver jewellery market is increasingly being driven by changing consumer behavior, with jewellery viewed less as a one-time investment and more as an accessible expression of personal style. For retailers and manufacturers investing in branding, hallmarking, premiumization, and dedicated retail formats, silver jewellery is emerging as one of the most promising growth opportunities in the Indian jewellery sector.

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