Page 14 - Bullion World Volume 02 Issue 01 May 2022

Bullion World | Volume 2 | Issue 01 | May 2022

HUID Hallmarking

for jewellery exports:

A way forward

Special thanks to Mr. James Jose, President,
Federation of Hallmarking Association of India for his
valuable inputs and data

The gem and jewellery export from India, with an annual export
value of nearly 40 billion USD, is growing at 6.5% rate. The jewellery
segment contributes around 75% of these exports. About 80-85% of
the Indian jewellery is exported to the Middle East and the UAE, mainly
catering to the Indian diaspora. In other words, the Indian jewellery
industry is yet to crack the export potential in the European Countries
(EC). The EC is predominantly a 9 carat and 14 carat jewellery market,
with a marked preference for high quality, lightweight jewelleries.

The compulsory hallmarking system along with Hallmark Unique
Identification (HUID), started in 2021 by the Bureau of Indian
Standards (BIS), has triggered mass adoption of quality in jewellery
industry and trade. Perhaps, this is the best time for India to
consider joining the International Vienna Convention (hereafter, the
Convention), as it would provide mutual recognition of our hallmarking
in other Convention signatories and thereby increase jewellery export
opportunities to these countries.

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