The Central Revenue Intelligence Agency (CRI) has seized 1,319 kg of smuggled gold in the last financial year 2023-2024 alone. Gold smuggling. Officials have warned that it is becoming a very profitable industry in our country.
Which state in India smuggles the most gold
Gold smuggling seized across the country in a single year is becoming a profitable industry
While gold is imported, smuggling of gold from abroad has become a very profitable industry. In the financial year 2023-2024 alone, the Central Revenue Intelligence Agency (CRI) has seized 1,319 5 kg of smuggled gold.
After China, India is the largest consumer of gold in the world. In 2023, 744 tonnes of gold were imported, while in 2024, 712.1 tonnes were imported.
The demand for gold continues to increase due to several reasons.
The main reasons for this are the continuous increase in the price of gold compared to other assets and the high demand for gold jewellery.
Seizures, The central government reduced the import duty on gold from 15 percent to 6 percent in July last year. Following this, investment in gold has increased, which has also increased its demand.
While gold is being imported, smuggling of gold from foreign countries has become a highly profitable business. In the last financial year 2023-2024 alone, the Central Revenue Intelligence Agency (CRI) has seized 1,319 kg of smuggled gold.
These were smuggled from Bangladesh and Myanmar through the eastern border of our country.
According to the CRI report, it is said that smuggling is more prevalent from Gulf countries like the United Arab Emirates and Saudi Arabia as the price of gold is low.
In the last financial year, between April and June alone, CRI officials seized 847 kg of smuggled gold worth Rs 544 crore at various airports.
CRI officials are using many methods to prevent gold smuggling.
Information is obtained in many ways, including checking the details of airline passengers, inspecting their luggage, using sniffer dogs, and intercepting confidential information.
In one such attempt, Karnataka-based actress Ranya Rao was arrested in Bangalore. She had come from Dubai and was carrying 14.2 kg of gold hidden in her body.
Most cases in Tamil Nadu
Maharashtra, Kerala and Tamil Nadu account for 60 percent of the cases related to smuggled gold, according to TRI figures. Tamil Nadu registered 621 cases in 2021, 888 cases in 2022 and 894 cases till October 2023. In 2023, 498 kg of gold was seized. The report also states that Chennai airport is a hub for smuggling gold from Gulf countries to Sri Lanka.
45 percent, According to a report, 40-45 percent of the gold smuggled into our country comes through the states of West Bengal, Manipur, and Mizoram.
These come from Bangladesh, Myanmar, and China.
Next to this, 30-35 percent of the smuggled gold comes through Kerala, Tamil Nadu, Andhra Pradesh, and Telangana.
These are smuggled from the United Arab Emirates and South East Asian countries.
The remaining 20-30 percent comes from other states. These mostly come from the United Arab Emirates.
New ways to smuggle gold
While the DRI authorities are taking several steps to prevent gold smuggling, smugglers are smuggling in new ways.
They are hiding it in the handle of a cricket bat, a belt worn around the waist, a torch light, a flask, and household appliances. Gold is also being powdered and made into a paste. Some people are also hiding it in their anus.
They are also hiding it in their underwear. Some people are involved in gold smuggling on a commission basis. Usually, people from poor and ordinary families were involved in this. Now, many people, including film actresses and educated people, are involved in this because they get a commission.
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hentairead Very well presented. Every quote was awesome and thanks for sharing the content. Keep sharing and keep motivating others.