Mp Ahammed, Malabar Gold on reducing smuggling via duty cuts
Mp Ahammed, Malabar Gold Chairman, has emphasised that reducing gold import duty is key to tackling smuggling in India. He noted that high taxes create incentives for illegal trade, making smuggled gold cheaper than legal imports. M. P. Ahammed stated that lowering duties would shift demand to organised retailers, improving compliance and transparency. He also highlighted that such reforms could boost exports and generate employment. A balanced policy approach can strengthen the jewellery sector while ensuring consumer protection and economic growth.