Mumbai airport becomes biggest hub for smuggling gold in India: Report
On January 23, the DRI seized 37 kg gold worth Rs 22 crore along with Rs 2.3 crore cash from a Kalbadevi jeweller who had hidden the metal inside a consignment of machine rotors. This is one of the biggest seizures at the city airport this year.
FollowThe Customs department has revealed that it seized 604 kg of smuggled gold worth Rs 360 crore at the Mumbai international airport in just 11 months and termed it being the country's number one airport in such hauls, overtaking Delhi at 374 kg and Chennai's 306 kg. According to reports, the seizure at Mumbai airport between April 2022 and February 2023 has also seen a sharp increase from 91 kg in 2022-23.
"Mumbai is a transit hub for gold smugglers as there is a big market for the precious metal; several syndicates, including jewellers, finance the racketeers," Customs officials said. It is also said that Delhi, Kolkata and Chennai too are preferred for the international routes.
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Hyderabad has also seen a slow rise in gold smuggling cases with 124 kg seized compared with 55kg seized last year.
In 2019-20, before the pandemic, Delhi airport had witnessed seizure of 494 kg smuggled gold, Mumbai 403 kg and Chennai 392 kg. During 2020-21, when gold smuggling significantly reduced, rackets involving smuggling of 150 kg were busted at Chennai airport, 146.9 kg at Kozhikode, 88.4 kg at Delhi and 87 kg at Mumbai.
Since October 2022, over 20 foreign nationals have been arrested for smuggling gold in Mumbai.
On February 10, Customs officials arrested two Kenyan nationals, including an international airline crew member, for aiding and abetting smuggling of 18kg of gold worth Rs 9 crore at the city airport.
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On January 23, the DRI seized 37 kg gold worth Rs 22 crore along with Rs 2.3 crore cash from a Kalbadevi jeweller who had hidden the metal inside a consignment of machine rotors. This is one of the biggest seizures at the city airport this year.
According to the World Gold Council (WGC), smuggling of precious metal has increased by 33 percent to touch 160 tonne in 2022 in India compared with the pre-Covid period due to the increase in the import duty to 12.5 percent from 7.5 percent.
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With an additional 3 percent GST, consumers pay 18.45 percent tax on refined gold. Besides, with gold prices crossing Rs 60,000 per 10gm, "profit" from gold smuggling has increased from 15 percent to 20 percent, officials said.
Meanwhile, India allows men to bring in 20 gram of gold and women 40 gram, legally. Jewellers said a total of 720 tonne of gold comes to India every year, of which 380 tonne enters legally with 15 percent import duty and 3 percent IGST, and the rest, 340 tonne, is smuggled in.
