Gold Smuggling Surges in India as Festive Demand Drives Record Prices and Supply Shortages

Oct 16, 2025 10:25 pm CST

Amid record gold prices and approaching Diwali festivals, India faces a spike in gold smuggling with margins exceeding Rs 1.15 million per kilogram. Officials report increased illegal imports as supply shortages push premiums to decade-high levels, creating lucrative opportunities for smugglers despite reduced import duties.