From the archive record
Gujarat Police had made the single biggest seizure of gold smuggled into the country after arresting six people leaving the Ahmedabad airport with 60 kg of the precious metal flown in from Dubai. The arrest is likely to strengthen pressure on Finance Minister Arun Jaitley to cut the gold import duty from a record-high 10 percent in his budget on Saturday. India is the world's top buyer of gold, and the high duty has made illegal shipments profitable. The World Gold Council estimates that 175 tonnes of gold were smuggled into the country last year. "Smuggling is happening because of high customs duty on gold," said Prithviraj Kothari, executive director of the India Bullion & Jewellers' Association, adding that smuggling may rise in 2015 if import duties remain high. "If we want smuggling t