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Business · 4 Nov
AI summaryThe World Gold Council (WGC) reported that gold smuggling into India surged by over 1,500 percent, reaching 50 metric tonnes in the July–September 2026 quarter, compared to 3 tonnes in the same period last year. According to the WGC, this increase is a direct result of the Modi government's decision to raise import duties on gold and silver to 15 percent to control the trade deficit.
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