Page 39 - Bullion World Issue 10 Volume 05 October 2025

P. 39

Mr Abidh CP, MAH Gold, Mr Ketan Kothari, Director, Augmont- Gold for All, Mr Anil Kansara, CEO, Auro Metal
Refinery Pvt Ltd, Mr James Jose, Managing Director, CGR Metalloys, Mr Vinit Agarwal, Director & Head of
Trading, The Group Vintage, Mr Anshuman Sharma, Head of Precious Metals - MEA & Indian Sub-Continent,
StoneX
Moderator: Mr Ketan Kothari, Director, Augmont-Gold For All

Proponents (Mr Anshuman Sharma & Mr Vinit Agarwal) Opponents (Mr James Jose & Mr Anil Kansara)

• LBMA, UAE-GD, and BIS accredited • Indian hallmarking laws require all domestic
refiners follow rigorous international bullion to carry BIS marks for consumer
standards, guaranteeing quality, purity, and protection.
traceability. • BIS standards provide superior
• Additional BIS hallmarking on imported assurance, including serial logging and
bars adds unnecessary operational hurdles, stricter tolerances, beyond international
delays, and costs without significant quality VS certifications.
benefits. • Concerns over counterfeit and substandard
• These international standards already bars entering the Indian market justify
assure consumers, and adding domestic mandatory BIS hallmarking, regardless of
hallmark requirements could reduce foreign accreditation.
efficiency without enhancing safety.

Operational & Practical Challenges:
• Hallmarking bullion stored in free zones or held on consignment complicates enforcement.
• Different international standards exist-India’s strict rules aim to protect consumers given its large market
share.

Audience & Industry Perspective:
• Majority favour exemption for internationally accredited bars, but recognize the importance of balancing
standards and operational feasibility.

Conclusion:
• Ongoing dialogue and innovative solutions are essential to harmonize international standards with India’s
consumer protection needs, balancing efficiency with safety.

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