Hallmark Unique Identification Protects the Consumer Rights and Revolutionises Gold Trade: M P Ahammed, Chairman, Malabar Group
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Hallmark Unique Identification (HUID) to enhance the confidence and trust of consumers
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Malabar Group ensures that only the ornaments with the HUID code are sold in all its showrooms across the country from April 1, 2023
Malabar Gold & Diamonds, one of the largest gold and diamond retail chains of the country, has welcomed the decision of the Union Ministry of Consumer Affairs to not to allow sale of hallmarked gold jewellery and artefacts without HUID (hallmark unique identification) number from April 1, 2023. In line with the decision of the government, Malabar Gold & Diamonds has also ensured that only the ornaments with the HUID code are sold in all its showrooms across the country from April 1, 2023. This was proposed by the central government back in June 2021 giving the jewellers ample time to adopt HUID.
HUID which is stamped on each piece of jewellery at the authorized Assaying and Hallmarking centres to testify the purity aims to protect the customer interest and strengthen the purity standardization framework of the jewellery retail trade.
Under the HUID norm, each jewellery will have three features embossed on it – BIS logo, gold karat level to denote purity and a six-digit alphanumeric HUID code containing numbers and letters. Customers instantly check the purity of gold jewellery by entering the HUID number on the BIS Care mobile. They can also avail of details such as the hallmarking date, name of the hallmarking centre and the information on the jeweller through the BIS Care app. HUID will further strengthen the track and traceability of jewellery, thus ensuring complete transparency in the value chain.
Commenting on decision of the Union Ministry of Consumer Affairs, Mr. M P Ahammed, Chairman, Malabar Group said, “We welcome the decision of the government. It's a game changing moment and will transform the way gold jewellery is sold in the markets. By standardizing the quality and transparency, HUID will not only strengthen customer trust in the jewellery retail trade but also safeguard customer interest. The HUID will bring in more transparency to the gold jewellery trade as it provides the details of the retailer selling a particular jewellery and the hallmarking centre that has checked and confirmed the purity level of the gold used in the jewellery. This will prevent the illegal gold trade to a great extent, which in turn will boost the revenue collection for the government. Currently, the HUID and the billing are not linked. If capturing the HUID code in the bills is made mandatory, it will plug the loopholes further to eliminate tax evasion. The government should initiate steps to link billing with the HUID system.”
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