Every year for the past few years, the CBIC has been interdicting smuggling cases in the range of 17,000 crore to 22,000 crore. Apart from these are cases of export-import fraud involving evasion of Customs duties.
In the 2023-24 fiscal year (up to November 2023), as many as 4,040 cases of gold smuggling involving 2,984kg of the precious metal were registered. Former CBIC chairman Vivek Johri says illicit trade and smuggling not just adversely impact the economy, but threaten national security as well.
Excerpts from an exclusive interview:
Q/ There seems to have been a rise in gold smuggling. How worrisome is the trend?
A/ The number of seizures have increased in recent years. We have seen a variety of methods being deployed—body concealment, and attempts to smuggle gold as powder, paste and foil. After many years, seizures of gold have also been made near the coastline, pointing to the possibility of sea routes being used. The alertness of Indian law enforcement agencies has compelled gold smuggling syndicates to adopt new methods and strategies. Increased surveillance at international airports has forced a change of route from West Asia by air to land route—that is, through the land borders in the northeast.
Q/ There is a debate on whether the rise in gold import duty leads to more smuggling. Is there a pattern?
This story is from the March 10, 2024 edition of THE WEEK India.
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This story is from the March 10, 2024 edition of THE WEEK India.
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