2012 Gold Smuggling Seizures by Customs in India

Customs in India seized $9.1 Million (500 Million Indian Rupees) worth of gold from smugglers during the April to October 2012 time period. The amount of gold seized during that time period was higher than the $2.7 Million (150 Million Rupees) seized in 2011.

Economic Intelligence Agencies in India state that gold smuggling and the avoidance of tax payments have contributed to lost revenue.

Source:  PTI, “Customs, intelligence agencies raise vigil to check gold smuggling,” Economic Times, March 3, 2013.