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Smuggled gold sells Rs 8,000 cheaper per 10g as import duty rises from 6% to 15%; over 100 tonnes could enter India this year despite DRI crackdown
The grey market for gold is thriving despite continuing crackdown from the Directorate of Revenue Intelligence (DRI). In fact, India's bullion market is facing growing disruption from smuggled gold, and industry executives are saying that legitimate dealers and jewellers are being squeezed.
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economictimes.indiatimes.com
Illegal gold imports surge in India: Smuggled gold selling up to Rs 8,000 cheaper is distorting bullion market & hurting legitimate dealers
Smuggled gold is distorting India's bullion market, impacting legitimate dealers and jewelers. Higher import duties have made the grey market increasingly attractive for gold. …
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timesofindia.indiatimes.com
Smuggled gold sells Rs 8,000 cheaper per 10g as import duty rises from 6% to 15%; over 100 tonnes could enter India this year despite DRI…