Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Gold April 04, 2023 05:30:46 PM

Customs Revealed Mumbai as the Biggest Hub of Gold Smuggling

Paul Ploumis
ScrapMonster Author
During the period from April 2022 to February 2023, a total of 604 kilograms of gold worth INR 360 crore were seized from the airport.

Customs Revealed Mumbai as the Biggest Hub of Gold Smuggling

SEATTLE (Scrap Monster): The latest data published by the Customs Department indicates that Mumbai International Airport emerged as the largest hub for gold smuggling in the first eleven months of the previous fiscal year.

During the period from April 2022 to February 2023, a total of 604 kilograms of gold worth INR 360 crore were seized from the airport. This is significantly higher when compared with seizure of 91 kilograms during the corresponding eleven-month period a year before. In second and third spots were Delhi and Chennai, which saw seizure of 374 kilograms and 306 kilograms of gold respectively.

RELATED NEWS:

Smuggled Gold Seized by Authorities Surged in 2022

DRI Seized Crores Worth Smuggled Gold from Air Cargo Complex

According to Customs, the smuggling acts have witnessed tremendous surge in Mumbai, as it happens to be the favourite transit hub for gold smugglers. Since October last year, approximately 20 foreign nationals have been detained for being involved in gold smuggling acts. In one of the biggest seizures this year, the DRI had unveiled 37 kilograms of smuggled gold worth around INR 22 crore along with INR 2.3 crore in cash from a jeweller.

As per estimates, nearly 720 tonnes of gold comes to India every year, out of which only 380 tonnes reaches the country via official routes, whereas the rest 340 tonnes are smuggled in. The seizure rate of smuggled gold is only at about 2%.

×

Quick Search

Advanced Search