2.5% increase in seizure of smuggled gold in two years, the biggest reason for this is the highest import duty in the world

The smuggling of gold in the country is continuously increasing. Government statistics also confirm this. The amount of smuggled gold seized has increased by 62.5% in the last two years. In the year 2020, a total of 2,154.58 kg of gold was seized. In the year 2022, its figure increased to 3,502.16 kg. Whereas, 384.71 kg has been seized in January this year.
According to the information received in the Lok Sabha, there has been an increase of 55.12% in gold smuggling cases caught by the Directorate of Revenue Intelligence (DRI) in the last two years. The total number of gold seizure cases in 2020 stood at 2,567. It increased to 3,982 in 2022. Their number stood at 414 in January this year. The number of people arrested in smuggling cases has increased by 23.11% in the last two years.
Ajay Kedia, director of Kedia Advisory, said, 'India has the highest import duty in the world. Including all taxes and GST, it reaches 18%. This is the main reason for the increasing smuggling of gold.