Mumbai: If the data compiled by Directorate of Revenue Intelligence (DRI) is to be believed, gold smuggling has spiralled in the past couple of years.
The DRI, which is mandated to keep a check on smuggling, in its latest compilation of records claims that during 2010-11 the share of narcotics among all the smuggled goods was 11% and that of gold was nil.
However, 2011-12 was a turning period as the Centre increased the import duties on gold. As a result of this hike, gold smuggling increased and its share among all the smuggled goods was 3 per cent during that year.
DRI officials said that the trend continued in 2012-13 and the share of gold seizure increased to 8 per cent. Interestingly, during the same time, share of seized narcotics slipped to 8 per cent, the data revealed.
Read News In Full 03/01/14 Shahkar Abidi/Daily News & Analysis
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