Indian Gold Book:Indian Gold Book - Gold Bars Worldwide
Indian Gold Book:Indian Gold Book - Gold Bars Worldwide
Indian Gold Book:Indian Gold Book - Gold Bars Worldwide
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BULK DELIVERY OF OFFICIAL GOLD IMPORTS<br />
The official import of gold bars into India by banks and other authorised entities can be cleared at<br />
14 airports.<br />
Most are cleared at 5 international airports:<br />
North New Delhi<br />
West Ahmedabad, Mumbai<br />
East Kolkata<br />
South Chennai<br />
Imports can also be cleared at some domestic airports, having been trans-shipped directly by air from international<br />
airports. After clearance, many shipments are transported by air and road throughout India.<br />
Most bars arrive at airports where the State taxes are low, or where they can be subsequently trans-shipped to States<br />
with low State taxes.<br />
State sales and municipal taxes tend to change. In recent years, Ahmedabad and Jaipur (clearance at New Dehli) have<br />
been important distribution centres. In 2002, Mumbai and Gurgaon have also become important.<br />
Open General Licence (OGL). In 1997-99, for which statistics are available, 59% was cleared at Ahmedabad and New<br />
Delhi.<br />
Non-Resident <strong>Indian</strong> (NRI). In 1994-99, 93% was cleared at Calicut, Mumbai, New Delhi and Chennai.<br />
Special Import Licence (SIL). In 1994-99, 96% was cleared at Ahmedabad, Mumbai and New Delhi.<br />
SHIPPERS<br />
Important agents, that clear gold bullion through Customs and arrange its transportation to final delivery destinations,<br />
include the following:<br />
Brink’s Arya India Private Limited<br />
Established in 1981 as a joint-venture with Brinks Inc (USA). Branch offices: 15. Headquarters: Mumbai.<br />
Group 4 Securitas Cash Services (P) Ltd<br />
Established in 1998 as a subsidiary of Group 4 Falck (Denmark). Branch offices: 11. Headquarters: New Delhi.<br />
Securitrans India Pvt Ltd<br />
Established in 1999 as a private company. Services Viamat International (Zurich) and Guardforce (Hong Kong). Branch<br />
offices: 10. Headquarters: New Delhi.<br />
Major airlines that deliver gold to India include Air India, British Airways, Emirates and Swissair. Side shipments within India<br />
are normally undertaken by <strong>Indian</strong> Airlines.<br />
Bar imports generally arrive in India 3 - 6 days after the bank has placed an order with an international bullion dealer.<br />
88<br />
Approximately 650 tonnes of gold bars were imported officially in bulk for the domestic market and<br />
jewellery exporters in 2001.<br />
AN INTRODUCTION TO THE INDIAN GOLD MARKET