The DRI has busted a pan-India gold smuggling syndicate allegedly using courier networks to distribute smuggled gold, arresting 11 people and seizing 6.61 kg worth Rs 10.36 crore. A preliminary probe also indicated nearly 318 kg was moved through the network
The Gem and Jewellery Export Promotion Council has urged the government to consult industry stakeholders following the hike in gold import duty, warning that higher duties could increase smuggling, raise exporter costs and worsen liquidity pressures, especially for MSMEs in the jewellery sector
