Bangkok Shipowners and Agents Association

Bangkok Shipowners and Agents Association

To promote shipping interest with the goal of dealing with problems facing general shipping interests in Thailand and her territorial waters.

Home News World Shipping News Smugglers take sea route to bring gold into India
Smugglers take sea route to bring gold into India PDF Print E-mail
Sunday, 26 November 2017 10:39

 

INDIA's directorate of revenue intelligence (DRI) has recently discovered that gold smugglers have begun using the sea route for illegally bringing the precious metal into the country. The authorities unearthed this method of smuggling while looking into the case of a citybased entity that allegedly smuggled gold through a ship's container.

Other entities have also been smuggling gold under the guise of machinery imports recently, the Economic Times of India reported.

"Container ships are being used for smuggling gold into the country and it's also being hidden inside machinery and smuggled in," a senior DRI official said. "These are part of the modus operandi in use in recent times."

 

DRI officials say that gold is being smuggled in not just from Dubai, Thailand, Hong Kong, Singapore, but also from the UK and the US more recently.

"In the case of machinery being shipped in by air cargo through London, we gathered that the modus operandi was used 35 times in the past before officials got a tip-off."

Smuggling commenced in 2013 after the government raised gold import duty from 2 per cent to 10 per cent in stages to contain a ballooning current account deficit and a falling rupee. Market sources said the DRI has been actively pursuing cases against those apprehended by it, as well as keeping a close vigil on suspicious cargo at air- and sea ports.