Quick Summary
Customs field formations and Directorate of Revenue Intelligence have seized 3626.85 kg during 2019-20, 1944.392 kg during 2020-21 and 1717.396 kg during 2021-22 (till November). This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha.
However, the Minister stated, being a clandestine activity, the quantity of gold smuggled into the country cannot be accurately estimated.
The Minister stated that there is no credible report / study from which any inference on the impact of flourishing unofficial trade on organized bullion and jewellery trade can be made. The Government makes policy interventions and also takes operational measures to check smuggling, the Minister added.
FAQ :
In less than three years, Customs and the Directorate of Revenue Intelligence have seized a total of 7,288 kg of gold.
During 2019-20, 3626.85 kg was seized; during 2020-21, 1944.392 kg was seized; and during 2021-22 (up to November), 1717.396 kg was seized.
The information was provided by the Union Minister of State for Finance, Shri Pankaj Chaudhary, in a written reply in the Rajya Sabha.
No, the exact quantity of gold smuggled into the country cannot be accurately estimated because it is a clandestine activity.
The Minister stated that there is no credible report or study available to infer the impact of flourishing unofficial trade on the organised bullion and jewellery trade.
The government is implementing policy interventions and taking operational measures to check smuggling.
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