India said to import 25% more gold than officially reported

Section:

India Is One of the Largest Gold Smuggling Hubs, Report Says

From The Hindu, Chennai, India
Thursday, November 28, 2019

International non-government organisation IMPACT, in its latest report, says India has become one of the largest gold smuggling hubs in the world.

Gold possibly tied to conflict, human rights abuses and corruption in Africa and South America is entering legal international markets through India, the Canada-headquartered organisation said in a statement.

... Dispatch continues below ...



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The organization said it had uncovered how the country imported about 1,000 tonnes of gold per year -- a quarter more than the official figures indicated. "Some enter as legal imports thanks to falsified paperwork," it said.

"Actors across India's gold industry are failing to do proper checks on where gold comes from to ensure it's not financing conflict and human rights violations," according to Joanne Lebert, IMPACT's executive director. ...

... For the remainder of the report:

https://www.thehindu.com/news/national/india-one-of-the-largest-gold-smu...

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