Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

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