Gold smugglers switching over to cigarettes, currencies

In past 18 months, department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 cr.
With the channel set three years ago to import gold illegally into the country not giving enough returns to cover the risk involved, operators of these channels – the smugglers, in simple words – are now increasingly switching over to illegal import of cigarettes. This is because of the “much higher RoI (return on investment)”, according to intelligence officials. The cost of a Rs 10 cigarette typically goes up to Rs 220 if imported legally. That is the margin the smugglers can corner, since they don’t pay import duty. Even if they pass on some of the benefit from the evaded duty, they still make a good amount of profit.
Among other items these dealers are focusing on for unofficial imports are foreign currencies, especially those of West Asian countries.
 

http://www.business-standard.com/article/current-affairs/gold-smugglers-switching-over-to-cigarettes-currencies-116020100024_1.html