epages News [Jewellery, November 2003]

• Eros Jewellery ties up with Nift
• Govt may make jewellery hallmarking compulsory
• Back to Jewellery Archives

Eros Jewellery ties up with Nift

Nov 08, 2003: Hyderabad: Eros Jewellery is planning to penetrate the domestic market with its range of 18-carat jewellery by next month. As per the plan, it would open franchisee centres major cities like Hyderabad, Mumbai, Chennai, Bangalore and Delhi. The company has tied up with Nift for jointly organising fashion shows across the country, wherein models would display Eros jewellery along with the dresses designed by the Nift students. The first such fashion show was organised in Hyderabad. It would be followed by shows in cities like Mumbai, Chennai, Bangalore and Delhi. The company has been in the business of manufacturing and exporting coloured stones to Cartier, Tiffany, and Movado in the US and other EU countries since 1986.

Govt may make jewellery hallmarking compulsory

Nov 13, 2003: Mumbai: The Union government is seriously considering compulsory hallmarking of jewellery to safeguard consumer interest and provide credibility to this rapidly growing sector. Around 610 jewellers have already received recognition from the Bureau of Indian Standards (BIS) for hallmarking, but the problem is that many jewellers do not segregate hallmarked products from others. The authorities are also studying the need for assaying centres for consumers, to check whether the jewellery purchased by them has the same number of carats as promised by the jeweller. During interaction with officials from the Forward Markets Commission and various commodity exchanges, the need raised to restructure and strengthen the organisation. In the liberalised policy environment, where exchanges are being established with modern trading platforms, clearing and settlement system and best international governance structures, there was an urgent need to upgrade and restructure the regulatory institution so as to have necessary capabilities and resources.