Saturday, August 01, 2015

London: the new source of gold smuggled to India

New Delhi:  London is turning out to be the new source of gold for being smuggled into India and crew members of international airlines are increasingly under the scanner as the new carriers.

In the past couple of months alone, the Directorate of Revenue Intelligence (DRI) arrested three crew members of Jet Airways and Virgin Atlantic for carrying close to 7kg gold worth close to Rs 2 crore while flying from Heaththrow airport to Delhi. Customs authorities at airport have also apprehended staff of Bird Worldwide Flight Services India Private Ltd for helping a passenger smuggle in gold.

This is the first time London has figured on the gold smuggling map vis-a-vis India.

Falling gold prices have only pushed up domestic demand and with customs duty at a high of 10%, smuggling of the yellow metal is rampant. In 2014-15, seizure of gold broke all records with the metal worth Rs 1,120 crore in value being apprehended by customs and DRI. In 2013-14, this figure stood at Rs 690 crore.
01/08/15 Times of India
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