- Smuggling of 30 kg of gold at Trivendram Airport again became a matter of concern
- Dubai is the largest gold smuggling gold in India, gold of premium quality
- new Delhi. Gold smuggling indicates an increase in scope after 30 kg of gold was seized from diplomatic goods at Trivandrum International Airport of Kerala. The vigorous rise in the gold price during the Corona period has encouraged smuggling as smugglers earn a good income from it. In such a situation, it is impossible to know what is the reason of gold smuggling.The real reason for gold smuggling is that the
bullion market experts say that the main reason for smuggling gold in India is the high import duty. Also, premium quality gold coming from abroad has a good resale value. Experts say that the smuggling of gold in India is the most from Dubai and due to the premium quality gold, its resale value is good. Experts tell that big gangs are smuggling gold from abroad, who lure people and lure them in their belongings and send gold from abroad to India. - Also Read: Balika Anudan Yojana: The government is giving 50 thousand rupees for the marriage of daughters, such benefits will be available
Import duty is the real reason
, National President of India Bullion and Jewelers Association, Surendra Mehta, said that in order to make money easily, people smuggling gold and people outside the industry are involved in this work. He said that 12.5 per cent import duty is levied on gold in India, which is a major reason for smuggling. There is also a three per cent GST on gold in India. Businessmen say that smuggling was completely stopped due to the closure of international flights during the lockdown.Ajay Kedia, director of Dubai’s Gold Demand More Kedia Advisory, said that the gold coming from Dubai is of good quality due to its premium quality. At the same time, because of the high value of gold, even small quantities earn good, so smugglers are more interested in smuggling gold.
Signs of increased gang involvement in smuggling
Recently 30 kg of gold was seized from the diplomatic baggage at Trivandrum Airport indicating the involvement of large gang in gold smuggling. The main suspect of the smuggler gang, Swapna, is said to be close to the Left Democratic Front government in the state.
