27kg of Gold smuggled on commercial airline
Duncan Richardson, News Editor
29 Jan 2014, 11:49 a.m.
27kg of gold worth $1.5 Million has been found concealed inside mobile phones on a cargo plane at Chennai airport reports say. The plane arrived from Hong Kong and it is unclear who the sender and attended recipient are.
Gold smuggling into India has significantly increased since the Indian government introduced the gold import tax in an attempt to reduce the country’s current account deficit. According to India’s central bank, gold imports declined to $3.9bn from $16.4bn in the last quarter of 2013.