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Gold seizure down by half at Mumbai intl airport

According to the Customs officials, the 80:20 scheme was put in place in August 2013 to put a check on gold import to the country

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The seizure of yellow metal at Mumbai's international airport is witnessing a drastic fall. In 2016 fiscal, compared to previous two years, it saw a fall of more than 50 per cent. The reason: government's decision to scrap the 80:20 gold import scheme in 2015.

According to the Customs officials, the 80:20 scheme was put in place in August 2013 to put a check on gold import to the country. The scheme stated that an importer would be allowed to import gold only after he exported 20 per cent of gold from his previous import.

Following this, there was a rise in gold seizures at the airport. Compared to 65 kilograms of gold seized in 2012-13, 345 kilograms were seized in 2013-14 and 923 kilograms in 2014-15.

However, with the government deciding to scrap the scheme in November 2015, the seizure of gold at the airport fell to 355 kilograms in 2015-16. This, according to the data from Mumbai Customs department's Air Intelligence unit (AIU), further nosedived to a mere 87 kilograms till December 2016-17.

"Even though 2016-17 fiscal is not yet over, the quantity of seizure is not likely to increase much. As against an earlier average of five kilograms, only 2.5 kilograms of gold were seized in December 2016," said an AIU officer.

The officials also said that gangs are trying out innovative ways to smuggle gold. Large numbers of 'carriers' are sent abroad, mainly to free market places like Dubai, Riyadh, Sharjah, Abu Dhabi, Sri Lanka, Singapore, and Bangkok, to smuggle in gold.

In three different operations in the last two months, AIU intercepted three passengers from Riyadh, who were carrying gold biscuits smartly concealed in their baggage. "All of them had concealed gold in torches. On interrogation they said they were given gold by one Ishtikar, an Indian based in Riyadh. The gold sent to India was to be sold at a market in Muzaffarnagar at a profit of Rs 5 lakh per kilogram," said an AIU officer.

Further probe revealed that Ishtikar is a native of Muzaffarnagar. "Ishtikar's aged father stays in Muzaffarnagar in a small house, while Ishtikar runs some shop in Riyadh," said the official.

Mumbai Customs' AIU on Saturday night seized goods, including gold worth Rs 62.10 lakh from passenger Ahamed Thameez who had arrived from Dubai. The seized goods include 2.249 kilograms of gold in crude form worth Rs 60.90 lakh and two I-phones worth Rs 1.20 lakh. Thameez had concealed gold smartly in motor of a portable car washing machine. Thameez said he was to hand over the gold to one Irshad MP in Mumbai. Irshad was also arrested from outside the airport.

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