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Gold smuggling into India soars despite easing of import curbs

gata.org / The Press Trust of India via The Times of India, Mumbai/ 2015-06-14

Five-Time Jump in Gold Smuggling; Seizure Worth Rs 1,120 Crore

NEW DELHI — There has been an unprecedented five-time jump in cases of gold smuggling in 2014-15 over 2012-13 during which yellow metal worth Rs 1,120 crore was seized, notwithstanding easing of curbs on its import.

What is worrying the revenue intelligence officials is that cases of the smuggling have not come down despite the legal import of gold into the country increasing significantly during the same period.

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