Imports have come to a standstill following hike in import duty while festival and wedding season demand is likely to push up demand for imported gold in the coming few months, analysts said.
KOCHI, INDIA: With the government decision to hike import duty on gold from 8% to 10% recent, smuggling of gold in the country is being increasingly reported from various airports in the country. The latest incident at Kochi International Airport involved a passenger from Sharjah tried to smuggle 5 kg of gold bars concealing it under the seat of the Jet Airways plane and was caught by the Customs Officials.
Imports have come to a standstill following hike in import duty while festival and wedding season demand is likely to push up demand for imported gold in the coming few months, analysts said.
No comments:
Post a Comment