Customs field formations and Directorate of Revenue Intelligence have seized 3626.85 kg during 2019-20, 1944.392 kg during 2020-21 and 1717.396 kg during 2021-22 (till November). This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha.

However, the Minister stated, being a clandestine activity, the quantity of gold smuggled into the country cannot be accurately estimated.

The Minister stated that there is no credible report / study from which any inference on the impact of flourishing unofficial trade on organized bullion and jewellery trade can be made. The Government makes policy interventions and also takes operational measures to check smuggling, the Minister added.

Gold smuggling enforcement: seizures reported while clandestine trade prevents accurate estimation, prompting policy and operational measures. Enforcement against gold smuggling has produced substantial seizures reported for successive fiscal periods, but total smuggled quantities cannot be accurately estimated because the activity is clandestine. The government notes no credible study exists to assess the impact of unofficial trade on the organized bullion and jewellery sectors and states that it pursues policy interventions alongside operational anti-smuggling measures.