COMMITTEE TO EXAMINE THE HALL MARKING OF GOLD SET UP
Shri Sharad Yadav,
Minister of Consumer Affairs, Food and Public Distribution has
set up a Committee to examine the ways and means of securing the
consumer interest in the marketing of Gold products.
Secretary, Consumer
Affairs will be the Chairman of the Committee. Two Representatives
from Directorate General of BIS and one representative each from
the following organisations will be on the Committee: Reserve
Bank of India, Ministry of Finance, Ministry of Commerce, MMTC
Ltd., India Govt. Mint, Gem and Jewellery Export Promotion Council,
World Gold Council, Jeweller Manufacturer, Federation of Consumer
Organisation and All India Sarfa Association.
The detailed terms
of reference of the Committee will be worked out after each represented
organisation nominates its Member and after the first meeting
is held. However, the Committee is to examine current practices
in the purchase and sale of gold products and the desirability
of standardization through Hallmarking.
It will also examine
whether such Hallmarking can be made mandatory or it should remain
voluntary. If the former is suggested the Committee will examine
the steps required to strengthen the infrastructure for standardisation
and in the latter case, how this is to be made an effective service
to consumers, will be taken into consideration.
