Gold's own country: India's booming smuggling sector
The Morning Brief
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The Consequences of Smuggled Gold
One Delhi leading journal was got to have smuggled in 1000 kgs of gold, one ton of gold from Dubai. This is now fifth or sixth year that agencies have not been able to arrest him just because there is no coercive action against him. So basically we have stringent laws just that we are not enforcing them on the right kind of people. No smuggling seems to have its own cycle. It's always a difficult logic but the compliant players ultimately pay the price. Their margins are affected. The government knows about it. They say at the end of the day, how does the smuggled gold get sold? It is through the same jewelry network. So why are you people coming and telling us duty
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