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Airports to railway stations: Gold smuggling peaks in India as prices climb

Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September.

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Swansy Afonso | Bloomberg
Surging gold prices in India are keeping customs officials on their toes.

Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September. Customs officials have arrested people for attempting to smuggle in gold by concealing it in bags, clothes and their rectums. On one flight alone, officials caught 30 passengers trying to smuggle in 7.5 kg of gold into Chennai.

“The propensity to smuggle now is very high because every time you increase the tax rate, you give that much more incentive to smugglers,” P.R. Somasundaram, managing director for the region

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First Published: Dec 13 2019 | 7:43 AM IST

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