Gold, silver smuggling surges after import duty hike

The Indian government recently increased the import duty on gold and silver to 15%.

This has led to a significant rise in smuggling of these precious metals.

Data shows that seizures of gold and silver have increased dramatically since the duty hike.

The government aims to protect the rupee and conserve foreign exchange reserves, but industry experts argue that higher duties push trade into informal channels.

Despite enforcement efforts, smuggling remains a challenge.