India's Mumbai International Airport reports highest gold seizures in 15 years

MUMBAI (Scrap Monster): The latest statistics released by the Air Intelligence Unit of India Customs suggests that the quantity of smuggled gold seized at Mumbai International Airport during the first half of the year is the highest in past 15 years.

According to officials, a total of 535 kilograms of gold were seized during the initial six months of the year. The quantity of seized gold is expected to cross 1,000 kilograms in 2014, surpassing the previous highs of 800 kilograms in 1989.

The instances of gold smuggling have been escalating. This is quite evident from the fact that 323 kilograms of gold were seized during the three month period from April to June ’14. The total gold seizure during April to June last year was only 55 kilograms. The seized gold has increased nearly six times this year.

Earlier in March, the Customs officials had reported the biggest seizure in a single night shift at the Mumbai International Airport when 18 kilograms of gold worth Rs 4.96 crores were seized in four separate incidents. The Customs Department has decided to award letters of appreciation to officers involved in the operation.

According to Milind Lanjewar, Additional Commissioner, Customs, the gold smuggling in the country is likely to continue as there has been no decrease in gold import duties in the budget presented by the government.