Gold smuggling in India has surged since 2013 when the country had raised the import duty to 10 percent in an effort to narrow a gaping current account deficit. The World Gold Council estimates that smugglers brought around 120 tons of gold into the country in 2017, with nearly the same amount expected in 2018.
New Delhi (Sputnik): India’s Directorate of Revenue Intelligence (DRI) has arrested seven Taiwanese nationals, including four women, on suspicion of involvement in a massive gold smuggling racket being operated from Hong Kong, the finance ministry said on Wednesday.
