Gold Smuggling Witnessed Tremendous Surge in India

SEATTLE (Scrap Monster): The gold smuggling acts have reported tremendous surge in India. The report published by the Directorate of Revenue Intelligence (DRI) indicates that the Customs Department seized 3,223 kilograms of gold valued at around Rs 974 crore during 2017-’18. The gold seizure has more than doubled when compared with 1,442 kilograms worth Rs 472 crores seized during 2016-’17. Going with the rough estimates that only 5-10% of the smuggled gold is seized, the smuggling of gold could go up to 30 tonnes during the last fiscal, said the report titled ‘Smuggling in India Report 2017-‘18’.

Much of the gold smuggled into the country is through land borders in North Easters states. The gold thus smuggled across the border, mainly from Myanmar and Bhutan is then transported to metropolitan cities such as Kolkata, Chennai, Mumbai and Delhi. Two days ago, the officers of Customs Department at Petrapol border had arrested a biker on suspicion and seized 30 gold bars weighing approximately 30.5 kilograms, which was smuggled into the Indian Territory. In another incident the Border Security Force (BSF) officials had arrested a person with 26 smuggled gold biscuits near Mustafapur border outpost in Krishnanagar area.

The illegal imports of gold through airports too have flourished during this period. Smugglers are seen changing their modus operandi frequently, attempting several innovative ways to smuggle gold into the country, and thus making things difficult for Customs officials.