Srinagar, Sep 2, KNT: The gold trade in Kashmir has plunged into crisis as all three authorised hallmarking centres in the Valley have shut down indefinitely, protesting against what they allege is a surge in fake hallmark stamping by unscrupulous traders. The protest, spearheaded by the All Kashmir Gold Dealers and Workers Association, seeks urgent intervention from the Government of India and the Bureau of Indian Standards (BIS) to curb the malpractice.
Association president Bashir Ahmad informed the news agency Kashmir News Trust, that the centres of Kashmir Hallmark at Hari Singh Centre, Srinagar Hallmark Centre, and Mohrikand Hallmark Centre in Downtown Srinagar closed their doors after repeated complaints of forgery went unanswered. He warned that the closure would hit genuine gold dealers during the peak wedding season, when sales are at their highest.
Bashir Ahmad described hallmarking as a “trust-building measure” meant to protect buyers, but accused certain traders of misusing the system to pass off fake stamps as genuine. He said innocent customers are being duped, while licensed centres risk heavy penalties, including fines, imprisonment, and even cancellation of their licences.
The Association has already raised the issue with BIS, which has promised action, but Ahmad insisted that the strike would continue until fake hallmarking units and traders are identified and punished. He also urged consumers to demand written assurances from jewellers and remain vigilant until the centres resume operations.
Ahmad further cautioned that while imported gold comes hallmarked, locally manufactured jewellery in Kashmir remains vulnerable to forgery, leaving customers exposed to fraud. He expressed hope that the government would act swiftly to restore confidence in the hallmarking process and safeguard the credibility of genuine dealers. [KNT]
