India Imports Gold Through Its Migrant Workers

BANGALORE: The connections between Indians and gold have long been associated since time immemorial. Though, people are in the 21^st century high tech world, the craze and fetish for gold among the Indians still remains the same. So, to meet the Indian demands of 974.8 tonnes gold every year, this yellow metal are now brought into the country by most of the Indian migrant workers, reports Biman Mukherji of The Wall Street Journal.

Up to 1 kilogram or 2.2 pounds of gold are allowed to carry by those Indians who have stayed abroad for at least six months durations by just paying the 10 percent duty tax. On top of which, there is no re-export requirement.

In one of the flights from Dubai, most of the passengers who were found carrying a gold bars worth $2.5 million declared that they purchased it for a relative’s wedding, said the customs officials.

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