Skip to main content

IS MODI FORMALISING SILVER ‘SMUGGLING’ INTO GUJARAT.


Is there a HUGE "silver scam" being carried out through the GIFT city in Gujarat? GIFT city is a Modi brainchild.

Serious concerns have been raised about a very strange trend which has been happening since the last 8 months. 

Here are the details:

- ALL of India's silver exports from UAE are being brought in through 1 SINGLE place - GIFT City in Gandhinagar, Gujarat, since Dec 2023

- Now, India levies a 15% import duty on silver and only  institutions nominated by RBI & DGFT are allowed to import silver

- However, for some strange reason, these rules DO NOT APPLY to Gujarat's Gift City where any private player can import silver

- Under an agreement between UAE & India, silver can be imported at a reduced duty of 8% provided it meets something called "rules of origin" requirements

Now this is where it gets very weird & bizarre

- Banks and other institutions that have imported silver through other ports in India from UAE have been REFUSED permission to import it at 8%. This has been done by Customs Dept citing "failure to meet rules of origin requirement" 

- However, ALL silver imports coming through GIFT City in Gujarat from UAE have been allowed at 8% duty without any issues

- As a result, silver is now being imported to India from UAE ONLY through Gujarat since 8 months

1. How is ONLY GIFT City in Gujarat allowing private players who are NOT nominated by RBI & DGFT to import silver? 

2. Why are silver imports coming from UAE through ports in rest of India not being allowed 8% concessional duty? Why is that concession only for imports through Gujarat?

3. On what basis has GIFT City in Gujarat been allowed a monopoly on silver import from UAE since 8 months?

A trade research firm called GTRI has demanded a probe into this mysteru and has also said that this "special treatment" given to Gujarat's GIFT City will have a negative impact not only on silver trade but also on other precious metals.

The Modi 0.3 Govt MUST answer on what basis is Gujarat's GIFT City being allowed special treatment & why is a monopoly being created to favor only Gujarat?

There also needs to be an URGENT probe to find out whether a huge "silver scam" is being carried out through Gujarat where silver is allowed to be imported at 8% from UAE to eliminate competitors in rest of India who are forced to import at higher rates.

https://x.com/SaketGokhale/status/1810506335244718196?t=MXcBYKdywY3CVtXTMVBKWw&s=19

Comments

Post a Comment

Popular posts from this blog

Helen Mirren once said: Before you argue with someone, ask yourself.......

Helen Mirren once said: Before you argue with someone, ask yourself, is that person even mentally mature enough to grasp the concept of a different perspective. Because if not, there's absolutely no point. Not every argument is worth your energy. Sometimes, no matter how clearly you express yourself, the other person isn’t listening to understand—they’re listening to react. They’re stuck in their own perspective, unwilling to consider another viewpoint, and engaging with them only drains you. There’s a difference between a healthy discussion and a pointless debate. A conversation with someone who is open-minded, who values growth and understanding, can be enlightening—even if you don’t agree. But trying to reason with someone who refuses to see beyond their own beliefs? That’s like talking to a wall. No matter how much logic or truth you present, they will twist, deflect, or dismiss your words, not because you’re wrong, but because they’re unwilling to see another side. Maturity is...
Post a Comment
Read more

The battle against caste: Phule and Periyar's indomitable legacy

In the annals of India's social reform, two luminaries stand preeminent: Jotirao Phule and E.V. Ramasamy, colloquially known as Periyar. Their endeavours, ensconced in the 19th and 20th centuries, continue to sculpt the contemporary struggle against the entrenched caste system. Phule's educational renaissance Phule, born in 1827, was an intellectual vanguard who perceived education as the ultimate equaliser. He inaugurated the inaugural school for girls from lower castes in Pune, subverting the Brahminical hegemony that had long monopolized erudition. His Satyashodhak Samaj endeavoured to obliterate caste hierarchies through radical social reform. His magnum opus, "Gulamgiri" (Slavery), delineated poignant parallels between India's caste system and the subjugation of African-Americans, igniting a discourse on caste as an apparatus of servitude. Periyar's rationalist odyssey Periyar, born in 1879, assumed the mantle of social reform through the Dravidian moveme...
Post a Comment
Read more

India needs a Second National Capital

Metta Ramarao, IRS (VRS) India needs a Second National Capital till a green field New National Capital is built in the geographical centre of India. Dr B R Ambedkar in his book "Thoughts on Linguistic States" published in 1955 has written a full Chaper on "Second Capital for India" While discussing at length justfying the need to go for a second capital has clearly preferred Hyderabad over Kolkata and Mumbai. He did not consider Nagpur. Main reason he brought out in his book is the need to bridge north and south of the country. He recommended Hyderabad as second capital of India. Why we should consider Dr Ambedkar's recommendation: Delhi was central to British India. After partition, Delhi is situated at one corner of India. People from South find it daunting to visit due to distance, weather, language, culture, etc. If Hyderabad is made second capital, it will embrace all southern states. People of South India can come for work easily. Further, if Supreme Court...
Post a Comment
Read more