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Gold's own country: India's booming smuggling sector

The Morning Brief

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The Gold Smuggling Racket in India

Pradi: It is not just a couple of people involved in smuggling. It is an entire racket complete with a mastermind either sitting in India or abroad and having a network of people to help transfer the gold from its origin to its final destination. A network that could have bureaucrats, government officials, airline and airport staff, customs officials, middlemen and large jewelry chains. We have not made our laws implemented efficiently where there is a fear that they might get caught and they might not do business," he says.

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