Friday, November 06, 2015

Spike in gold smuggling cases at Pune airport

A significant rise in gold smuggling cases has been reported at the Pune international airport in Lohegaon. According to the Customs Department, in the financial year 2013-2014, only six cases of gold smuggling, with 3.73-kg gold worth Rs 1.1 crore recovered, were reported at the airport. In 2014-2015, there were 23 cases of gold smuggling with 33.5-kg gold worth Rs 9.18 crore recovered. And between April 1 and October 31, 2015, the Customs Department registered 26 cases of gold smuggling, in which 15.5-kg gold valued at Rs 4.43 crore was recovered.
Officials said increased import duty on gold — from zero to 10 per cent — has led to a spike in smuggling since 2013. Gold is available at low cost in Dubai. One can save Rs 2.5 lakh to Rs 3 lakh on a purchase of 1 kg gold in Dubai. So, racketeers smuggle gold from Dubai to India by airways and other routes through “carriers”. The consignments are then handed to “receivers” in India. A probe has revealed Pune is considered a transit point by gold smugglers based in Mumbai and South India.
06/11/15 Chandan Haygunde/The Indian Express
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