Sunday, April 20, 2014

High import duty pushes up gold smuggling at IGI

New Delhi: There has been a manifold increase in the seizure of smuggled gold at Delhi airport. In 2013-14, the customs department seized 352kg gold worth Rs 94 crore-52 times more than in 2012-13. Officials estimate that only a 12th part of the gold smuggled through the airport is detected, pointing to a massive jump in smuggling last year following the sharp increase in import duty on the yellow metal.
On March 16, 10 Afghan nationals, nine of them women, were caught with 38.4kg of undeclared gold-a record for Delhi airport-worth Rs 10.6 crore. Less than two weeks later, on March 28, a Syrian national was caught with 18 gold bars weighing a kilo each. The haul was valued at Rs 4.95 crore-a record for a single courier.
20/04/14 Suhas Munshi/Times of India
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