7,288 kg gold seized by Customs and DRI in less than 3 years (Press Release dated 21st Dec 2021)

Customs field formations and Directorate of Revenue Intelligence have seized 3626.85 kg during 2019-20, 1944.392 kg during 2020-21 and 1717.396 kg during 2021-22 (till November). This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha.

However, the Minister stated, being a clandestine activity, the quantity of gold smuggled into the country cannot be accurately estimated.

The Minister stated that there is no credible report / study from which any inference on the impact of flourishing unofficial trade on organized bullion and jewellery trade can be made. The Government makes policy interventions and also takes operational measures to check smuggling, the Minister added.

Author: Business So Simple

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