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Another gold haul in Kerala, 3.50 kg seized from Kozhikkode airport

Gold smuggling has intensified after a surge in prices of the yellow metal.

Updated on: Jul 10, 2020, 23:03:03 IST
Hindustan Times, Thiruvananthapuram | By
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As the National Investigation Agency (NIA) took up the probe in Thiruvananthapuram airport gold smuggling case with the opposition stepping up its protests seeking chief minister Pinarayi Vijayan’s resignation, the customs intelligence on Friday made another major seizure of the precious metal.

The gold had arrived from the Middle East in chartered flights. (Sourced Photo/Representative)
The gold had arrived from the Middle East in chartered flights. (Sourced Photo/Representative)

Customs said 3.50 kg of gold were seized from three passengers at Kozhikkode international airport, who had arrived in chartered flights from West Asian countries. The market value of the seized gold is more than Rs 1.60 crore, it said, adding this was the 14th major seizure made at Kozhikkode airport since January this year.

National Investigation Agency files case against 4 in Kerala gold smuggling scandal

“This shows the brazen act of the smuggling syndicates. They are threatening our system. In most cases they are using poor people who lost their jobs by promising them good returns. It is sad that some of these people are quite unaware of dangers attached to such acts,” said a senior officer who did not want to be identified.

Watch: Kerala gold smuggling case updates: NIA registers FIR; protests against Vijayan

According to the India Gold Council data, the country imported 831 tonne of gold in 2019, but customs officials and jewellers says that more than half of this quantity floods the market through illegal ways. At least 550 kg of gold was seized from the state last year. After gold prices skyrocketed, there is a big spike in smuggling also.

Imported metal attracts 10 per cent import duty and 3 per cent GST. Jewellers say one kg of smuggled gold fetches a profit between Rs 8 and 10 lakh. Often smuggling syndicates think that frisking norms would be at a minimum during the covid days and tickets won’t be checked in case of chartered flights and therefore take poor returnees for a ride, the official said.

 
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