Gold Seizures Halved in FY25: Report

New Delhi, Aug 18 (PTI) The quantum of gold seizure by enforcement agencies more than halved to 2,600 kg in 3,005 cases in 2024-25, Parliament was informed on Monday.

Gold seizures was at its highest level at about 4,972 kg in 6,599 smuggling cases in 2023-24.

In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary gave details of gold imports and seizures of smuggled gold in the last 10 years.

In FY23, gold seizures stood at 4,343 kg, while in FY22 and FY21, it was 2,172 kg and 1,944 kg, respectively.

Gold imports in value terms stood at USD 58 billion in 2024, higher than USD 42.58 billion in 2023. Imports of the precious yellow metal stood at USD 36.59 billion in 2022, while in 2021 it was USD 55.78 billion.

Switzerland and the United Arab Emirates were the countries from where maximum quantum of gold was imported in 2024. In value terms gold imports from Switzerland was USD 21.49 billion, while from the UAE it was USD 12.93 billion.

Imports from South Africa and Peru were USD 5.21 billion and USD 4.37 billion, respectively, in 2024.