Deepak Shenoy flags rise in gold smuggling after import duty hike

Capitalmind AMC's CEO Deepak Shenoy flagged concerns after government hiked import duties on gold, silver, and other precious metals from 6% to 15% to reduce imports. "The last time we saw amazing stories of how everyone, including an IPS officer's daughter, was smuggling gold in…Welcome to a repeat," Shenoy said. "I hope this [the hike] is temporary," he added.