Business News | Gold Seizures by Customs Nearly Double After May 13 Duty Hike, Govt Informs Parliament
Get latest articles and stories on Business at LatestLY. Gold seizures by the Customs department nearly doubled after the change in customs duty on gold and silver came into effect on May 13, 2026, according to data tabled in Parliament on Tuesday.
New Delhi [India], July 21 (ANI): Gold seizures by the Customs department nearly doubled after the change in customs duty on gold and silver came into effect on May 13 this year, according to data tabled in Parliament on Tuesday.
The data showed that 160.91 kg of gold was seized in 287 cases between May 13 and June 30, 2026, compared with 86.16 kg seized in 165 cases between April 1 and May 12, 2026.
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The number of people arrested in connection with gold smuggling also increased during the period. Customs authorities arrested 116 persons between May 13 and June 30, compared with 67 persons between April 1 and May 12, the government said.
The figures were shared by Minister of State for Commerce and Industry Jitin Prasada in a written reply to an unstarred question in the Lok Sabha.
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The reply also included data on silver seizures. Between May 13 and June 30, 2026, Customs seized 535.95 kg of silver in 16 cases, compared with 49.53 kg seized in seven cases between April 1 and May 12, 2026. The customs duty on the import of gold and silver was revised with effect from May 13, 2026.
Responding to concerns over whether the increase in import duty on gold and silver could lead to higher smuggling and illegal trade, the minister said Customs field formations and the Directorate of Revenue Intelligence (DRI) maintain constant vigil and operational readiness to prevent and detect smuggling activities, including the smuggling of gold and silver.
The government said such risks are continuously monitored and addressed through enforcement measures under the existing legal framework.
It added that whenever instances of smuggling are detected, action is taken under the provisions of the Customs Act, 1962, and other applicable laws, including seizure and confiscation of smuggled gold and silver, as well as arrest and prosecution of the persons involved wherever required.
The data also showed that during 2025-26, Customs seized 646.66 kg of gold in 836 cases, leading to the arrest of 508 persons.
In 2024-25, authorities seized 2,600.40 kg of gold in 3,005 cases, while 1,240 persons were arrested.
The government further said that in 2023-24, Customs seized 4,971.68 kg of gold in 6,599 cases, with 2,003 arrests. In 2022-23, authorities seized 4,342.85 kg of gold in 4,619 cases, and 1,740 persons were arrested. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)