Two Years in Prison for Unregistered Jewellers

10 years, 2 months ago - February 17, 2014

The Assay Office plans to conduct surprise visits to check if the mushrooming jewelers are all recorded. According to the latest register, some 500 jewelers have completed the registration, but this figure has increased in recent times. Those who operate without being registered will have to pay a fine of Rs 100,000 and shall be liable to imprisonment for two years.

Please note that all jewelry should have a punch that will identify its manufacturer. On the world market, gold was at $ 1,295.30 an ounce Wednesday. With the high price of gold and buying power down, people prefer to opt for jewelry 'fantasy'.

The price of raw materials has also increased dramatically in recent years and it is only recently that it has declined. All jewelers are on the same wavelength because this sector is in crisis. If the price of gold goes up or down on the world market, then this rise or fall in prices is reflected in the Mauritian market.

Despite the difficulties in this sector in crisis, jewelery is becoming more and more as a major pillar of the manufacturing sector in the Mauritian economy.

This sector comprises 26 companies export-oriented and some 500 jewelers that supply mainly the local market. They employ about 3,000 people.

Total exports of jewelry, excluding diamonds, were as follows: Rs 2.3 billion in 2006, Rs 2.4 billion in 2007, Rs 2.1 billion in 2008, Rs 2.2 billion in 2009, Rs 3.6 billion in 2010 and Rs 3.9 billion in 2012.

The main markets of Mauritius are: France (38%), the United States (36%) and Belgium (14%). In 2012, exports of jewelry to France amounted to Rs 1.3 billion, to the United States and Rs 1 billion to Belgium Rs 525 million.

Text by Le Matinal

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