The Directorate of Revenue Intelligence (DRI) apprehended two passengers at Mumbai airport attempting to smuggle diamonds worth Rs 5.70 crore to Bangkok by concealing them inside their bodies.
On December 7, the Shenzhen court in China will deliver a judgment in the case of 22 Indians who were charged with smuggling of diamonds.
The Mumbai Customs department seized narcotics, foreign currency, gold, and precious stones worth over Rs 46 crore at the Mumbai international airport in a week.
Sukanya Verma looks at Bollywood's best-known diamond robberies in film.
Kannada actress Ranya Rao, along with businessman Tarun Raju and jewellery dealer Sahil Jain, had their judicial custody extended until April 21 in connection with a gold smuggling case. The trio is accused of orchestrating the illegal import of gold worth over Rs 12.56 crore from Dubai to India. The case came to light in March 2025 when Rao was apprehended at Bengaluru's Kempegowda International Airport with 14.8 kilograms of gold allegedly smuggled from Dubai. Investigations revealed her association with Vira Diamonds Trading, a Dubai-based firm she co-founded with Tarun Raju, which authorities allege was used as a front for smuggling operations. Raju was arrested following evidence of his involvement in purchasing gold in Dubai and facilitating its illegal transport to India. Jeweller Sahil Jain is suspected of assisting Ranya in selling approximately 49 kilograms of smuggled gold valued at over Rs 40 crore and managing hawala transactions.
The Indian Embassy in Beijing immediately took up the matter with the Chinese government and sought Consular access to them, they said. The Consular access has been granted for Wednesday.
External Affairs Minister S M Krishna has met the families of 21 Indians, who have been charged with diamond smuggling in China, and assured them that he will raise the issue during his meetings with the top Chinese leadership.
India is one of the five countries where instances have been found that trade accounts of diamond business are being used to launder illegal funds to the tune of millions of dollars, according to a report by a global financial crimes combating body.
NIA said that accused Ramees KT and Sharafudheen had travelled to Tanzania and visited shops in the African country where guns are sold. In Tanzania, Rameez attempted to procure a licence for the diamond business. He later smuggled gold to the UAE.
In a well-planned operation, Chinese customs investigated the Rs 1000 crore-plus illegal diamond market being run by Indians, mostly Gujaratis. More than 50 people have come under the Customs net and according to sources in diamond market in Surat, some 33 merchants belongs to firms having headquarters in Surat and Mumbai.
The government has hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. The duty changes came into effect on June 30. Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent.
Chinese authorities arrested another Indian diamond trader on Tuesday in connection with the ongoing case of 21 Indian diamond merchants, who were arrested in January 2010 for allegedly smuggling diamonds into China from Hong Kong.
An official of the Indian Embassy in China, on Wednesday, met the 21 Indians detained there for alleged diamond smuggling and legal help is being arranged for them, Foreign Secretary Nirupama Rao said.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
Twelve of the 22 Indian diamond traders, detained in China on charges of smuggling, returned home early on Friday after they were let off following deportation orders by a Chinese court. "We are happy that 12 diamond traders held in China returned to India late last night. We are making all efforts to bring back the remaining traders," Gems & Jewellery Export Promotion Council Chairman Rajiv Jain said.
Ten of the 22 Indian traders, charged with smuggling diamonds worth $7.3 million (about Rs 36.5 crore) into China, were on Wednesday sentenced to varied prison terms ranging from 23 months to six years by a Shenzhen court, which ordered the deportation of the remaining 12.
The central agency asked Banerjee to appear at its Kolkata office on Friday morning, he said.
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
India's gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to $10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
CBI sleuths conducted raids at three houses of Ghatak in Asansol in Paschim Bardhaman district and one in Lake Gardens area of Kolkata.
Deepa Gahlot lists some 2023 movies that you need to watch if you haven't already.
The Congress on Monday alleged that a Chinese national played a 'dubious role' in the Adani Group's activities and asked the government if it was not concerned that the conglomerate may be involving that person in important defence contracts.
Deepa Gahlot lists some interesting made-for-OTT hostage dramas that you can watch.
China has allowed access to relatives of jailed Indian merchants, who were arrested on charges of smuggling diamonds last January.
A Chinese court has extended by two months the detention of 21 Indians, who were captured from the southern city of Shenzhen in January this year on charges of smuggling diamonds worth $7.3 million.
According to the China experts in New Delhi the arrest of so-called 21 Indian diamond merchants on charges of smuggling under China's anti-smuggling laws in Shenzhen on January 8 needs to be handled carefully by the establishment and even the media.
Unperturbed by the recent arrest of 21 Indians for allegedly smuggling diamonds from Hong Kong to mainland China, Indian diamond jewellery manufacturers continue to actively explore the potential in the market of that vast country.
A day after it gave consular access to 21 Indians detained for allegedly smuggling diamonds, China said on Thursday that it would protect their "legitimate rights".
Banerjee, the 34-year-old nephew of West Bengal Chief Minister Mamata Banerjee, is stated to have sent an email to the investigating officer of the case citing some personal reasons for his non-appearance.
The sentencing came 32 months after Bansal was arrested with a plane ticket to India following a two-year probe dubbed Operation Cyberchase. It was US Drug Enforcement Administration's first-ever major investigation of its type.
Last week, two BSF troopers from Rajasthan, members of the UN Peacekeeping Force in Congo, were killed by protestors. Do we need to lose lives fighting in a country not ours, in a war that is not ours and for a cause that is not ours, asks Air Commodore Nitin Sathe (retd), who served in the UNPKF in Congo.
Monsoon is here, and time to bring out the chhatris.
The central probe agency had on Friday carried out a fresh round of searches in connection with the case, they said.
Kohinoor lacks the sparkle, feels Paresh C Palicha.
Move comes after agencies unearth several cases of misuse of the 80:20 scheme.
The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
More than 750 constituencies spread across four states and one union territory will go to the polls on Tuesday
