9-carat jewellery is good for fashion jewellery buyers; but not for gold investors: Sen

The introduction of 9-karat gold hallmarking by the Bureau of Indian Standards (BIS) is a welcome move that will open up new opportunities in the affordable jewellery segment, especially for diamond and fashion jewellery buyers, says Suvankar Sen, MD & CEO of Senco Gold and Diamonds. He believes the inclusion of lower karatages will improve affordability and widen options for the younger generation and budget-conscious consumers. “For everyday wear or gifting under ₹30,000 or even ₹20,000, this is a good move.”

However, Sen clarified that 9-karat jewellery is not meant for gold investors. “This is for diamond buyers and fashion jewellery buyers,” he said, distinguishing it from 22-karat wedding or traditional jewellery, which remains the standard for significant occasions. “Now, we as jewellers—and consumers—have the option to also provide 9-karat, based on which gemstones, diamonds, and other stones can be used,” he added.

Sen also welcomed the BIS regulation that mandates only government-authorised mints and refineries to manufacture 24-karat coins, but said the industry is awaiting further clarity. “Discussions are ongoing with the government. Hopefully, clarity will come very soon,” he noted, adding that jewellers are committed to quality control regardless of the source. “Whether it’s a 995 or 999 purity coin, we do our internal testing to ensure there is no error in the purity provided to the consumer.”