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The Role Of Hallmarking and Transparency In Strengthening Consumer Confidence

By Suresh Krishnan, Vice President – Sales, PNG Jewellers

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In India, jewellery is equally an emotional purchase and a significant financial transaction. As consumers become more informed and digitally empowered, trust is increasingly becoming a decisive factor alongside design, price and brand reputation. Hallmarking has played an important role in creating that trust by giving consumers third-party assurance of precious-metal purity.

India’s hallmarking ecosystem has expanded significantly. BIS data shows that hallmarking registrations increased from 34,647 to 1,37,315 between April 2021 and March 2022 *1, while more than 8.72 crore gold and silver articles were hallmarked during that year. The introduction of the six-digit Hallmark Unique Identification (HUID) in 2021 has further strengthened traceability. Consumers can verify a gold article’s HUID through the BIS CARE app, adding an independent layer of assurance at the point of purchase.

For an organised retailer, this becomes particularly relevant as jewellery discovery increasingly moves online. A customer may discover a product on social media, compare it on an e-commerce platform and complete the transaction digitally. In such a journey, hallmarking helps bridge the trust gap created by the absence of physical touch and feel. When purity is independently verifiable, consumers can make online purchases with greater confidence.

The opportunity is also expanding beyond gold. BIS has brought both gold and silver under its hallmarking framework. In FY2024-25, more than 32 lakh silver jewellery articles*2 were hallmarked. The revised IS 2112:2025 introduced HUID-based hallmarking for silver on a voluntary basis from September 2025, creating greater traceability and consumer assurance in a category that is increasingly relevant to younger and value-conscious buyers.

This evolution matters commercially. KPMG’s India CX Report 2025*3 found that 27% of fine-jewellery customers are more confident in authenticity, quality and value when they trust a brand, while 9% said they would explore another brand if jewellery appeared overpriced for its quality. These findings underline why trust is not simply a compliance issue; it directly influences consideration and willingness to pay.

Contributing to the larger goal of organised and transparent trade, hallmarking has now been integrated as part of the broader customer experience across stores, CRM and e-commerce. As India’s jewellery market becomes increasingly omnichannel, the brands that communicate purity, pricing and policies clearly will be better positioned to convert digital discovery into purchase and, more importantly, build relationships that extend beyond a single transaction. The future of jewellery retail will therefore be defined not only by what consumers see, but by how confidently they can verify what they are buying and hallmarking takes care of that concern efficiently.

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JB Insights

Puneet Gupta Explores A New Luxury Landscape Where Jewellery and Accessories Transcend Adornment To Become Collectible Objects Of Craftsmanship, Individuality and Storytelling

PUNEET GUPTA | PUNEET GUPTA CRAFTED FINE GOODS

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THE NEW LANGUAGE OF LUXURY

Luxury is moving beyond the idea of an accessory being simply beautiful, precious or recognisable. We are increasingly entering a space where jewellery and accessories are being viewed as art objects in their own right—pieces that have a strong point of view, a sense of craftsmanship and, most importantly, a story to tell.

At Puneet Gupta Crafted Fine Goods, this is a space that interests me deeply. With our demi-fine jewellery, we approach a ring, cuff, pendant or pair of earrings almost as a miniature sculpture. The intention is not merely to adorn the wearer, but to create an object with enough character to become part of their personal collection.

“The intention is not merely to adorn the wearer, but to create an object with enough character to become part of their personal collection.”

Our fascination with archaeology, natural forms, Indian craft traditions and aged textures allows us to create pieces that feel as though they have been discovered rather than simply manufactured.

FROM CONSUMER TO COLLECTOR

I think this is particularly relevant to the new generation of luxury consumers. They are becoming less interested in buying something simply because it is expensive and more interested in why it exists—what inspired it, who made it, what material it uses and what makes it different. There is a growing appetite for pieces with individuality rather than obvious uniformity.

This movement extends beautifully into accessories beyond conventional jewellery. Sculptural metal bags, statement brooches and embellished wearable objects are increasingly occupying the space between fashion and art.

A metal bag, for instance, can function as an accessory but also as a small piece of industrial sculpture. A brooch can become a personal emblem rather than merely an embellishment pinned to a garment.

These objects invite a different kind of relationship with the wearer—they can be collected, styled, displayed and eventually passed on.

INDIAN CRAFTSMANSHIP, REIMAGINED

I also believe that Indian craftsmanship has an important role to play in this evolution. Our artisans possess centuries of knowledge around metalwork, embroidery, carving, surface treatment and ornamentation.

The opportunity today is not to reproduce traditional objects, but to take that knowledge and reinterpret it through a contemporary design language.

“The opportunity today is not to reproduce traditional objects, but to take that knowledge and reinterpret it through a contemporary design language.”

WHEN VALUE BECOMES EMOTIONAL

Perhaps the most interesting shift is that value is becoming more emotional and intellectual. A piece does not have to be made entirely of precious materials to feel luxurious. It can derive its value from the originality of its design, the hand that made it, the story behind it and the fact that it feels unlike anything else.

The future of luxury, therefore, may belong to the conscious collector—someone who buys fewer accessories but chooses pieces that have a life beyond a single season.

Jewellery, bags and brooches become more than things we wear. They become objects we discover, live with and eventually leave behind.

The next chapter of luxury may not be about owning more—it may be about owning pieces that mean more.

As consumers seek authenticity, craftsmanship and individuality, the line between jewellery, fashion and art is becoming increasingly fluid. The emerging luxury collector is not simply buying an accessory; they are acquiring an object with a story, a point of view and the potential to outlive a trend.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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