Govt makes hallmarking gold jewellery mandatory

India has made hallmarking gold jewellery for quality control mandatory, a senior government minister said.

India is the world's biggest consumer of gold but quality is sometimes a problem, especially when small jewellers and customers face problems during redemption.

Gold imports by India plunged 56% to 125 tonnes in the fourth quarter, cutting full-year imports by 8.4% as record high prices and high interest rates hit demand.