AHMADABAD: The smuggling of gold rapidly increase in India, and various agencies continuously seized the gold. In 2014, central agencies like Directorate of Revenue Intelligence (DRI) and Customs department have caught 160 kg gold in state, as compared to 17 kg in 2013 and just five kg in 2012.
Around 52 major cases of gold smuggling have been detected and 160.9 kg of gold worth Rs 47.94 crore has been seized, making it one of the largest recoveries in terms of quantity and amount in recent years.
Restrictions on imports along with high import duties (up to 10%) are two major reasons for gold smuggling, say experts and bullion traders.
Since January 2014, DRI has seized 106.16 kg gold worth Rs 31.28 crore, of which four cases have been detected in Khambaliya and Surendranagar. At Ahmedabad airport alone, customs department has seized 54.82 kg gold worth Rs 15.66 crore and detained 64 smugglers.
From moulding gold bars in zinc die-cast scrap to hiding them in rectum, officials have uncovered various new tricks by people trying to smuggle the yellow metal.
Due to the huge price difference of gold between Dubai and India, most of the cases have been detected on the Dubai-Sharjah-Doha route. People who pay a duty of Rs 2.7 lakh per kg in Dubai still stand to gain at least Rs 75,000 per kg. Gold is also being brought in illegally from Singapore and Thailand.
In August, customs department formed a special Air Intelligence Unit to handle gold smuggling cases.
