Jewellery exports and quality of India's gold is set to get a boost with the decision to join the Convention on Control and Marking of Articles of Precious Metals known as Vienna Convention 1972.
With the accession to the global hallmarking convention, jewellery articles marked for exports by such recognized Assaying Centres in India would not be subjected to further tests for purity in the member countries of Vienna Convention, thus facilitating export of jewellery items from India.
Apart from facilitating export of jewellery articles, the accession will result in technological upgradation of the Assaying and Hallmarking Centres in the country and their recognition by the members of the Vienna Convention, said the Information and Broadcasting Minister, Ambika Soni, after the Cabinet meeting.
Upgradation and international recognition of Assaying Centres will also result in improvements in the quality of gold jewellery articles in the domestic market, thus benefiting the Indian consumers, she added.
The Convention has 18 members now with 11 more countries including Cyprus, Denmark, Hungary, Ireland, Israel, the Czech Republic, the Netherlands, Latvia, Lithuania, Slovak Republic and Poland joining later.
The Convention on Control and Marking of Articles of Precious Metals is an international treaty among States to facilitate cross border trade in precious metal articles. It was signed by seven Members of the European Free Trade Association (EFTA) in Vienna in November, 1972 and came into force in 1975.
The Convention aims to facilitate trade in precious metal articles and promote consumer protection. It also provides for a common set of technical requirements useful for independent third party verification (hallmarking) and a Common Control Mark indicating fineness.