India's seizure of smuggled gold soars 365% in first quarter

NEW DELHI: Seizure of smuggled gold in India soared 365% in the first quarter of the year, a report said on Saturday, following curbs on imports of the precious metal to plug a yawning trade gap.

India, the world's largest buyer of gold, has twice hiked import taxes on bullion this year to discourage gold-buying and introduced other restrictions on purchases to rein in a record current account deficit, the broadest measure of trade.

In the April to June quarter of this financial year seizure of smuggled gold rose 365% over the same period last year, the Business Standard newspaper quoted a government revenue department official as saying.

mcx tips, gold tips, silver tips, crude oil tips, natural gas tips, lead tips, zinc tips, aluminium tips, copper tips, gold levels, silver levels, crude oil levels, copper levels, lead levels, me nth oil updates, mcx  free trail ,ncdex free trail, mcx trading accounts, brokerage, gold updates, crude updates, silver updates, crude updates , nymex  crude, Com ex gold, come x silver, com ex gold tips, stock market tips, nse tips, stock  tips, option tips, bank nifty tips, bank nifty levels, nifty  tips, mcx tips, mcx levels commodity tips free trial, Forex Tips, Intraday Tips., mcx gold tips, mcx tips, ncdex tips, nifty free tips, option tips, share market tips, Share Tips, shares tips, Stock tips MCX Tips, Stock Tips, Forex Tips ,NCDEX Tips, Share Tips, commodity tips free trial, Option tips ,mcx gold tips, nifty free tips, shares tips, Share Market Tips, Intraday Tips, base metal tips