Trinamool Congress MP Saket Gokhale has alleged a silver scam taking place at Gujarat International Finance Tec-City (GIFT City) in Gujarat. In a social media post, Gokhale raised concerns about the import of silver from the United Arab Emirates (UAE) to GIFT City without following the usual regulations.
According to Gokhale, while silver imports from UAE to other ports in India were being refused permission to import at a reduced duty of 8%, GIFT City in Gujarat was allowing these imports without any issues. This has led to a monopoly on silver imports from UAE to India through GIFT City for the past eight months.
Questioning the special treatment given to GIFT City, Gokhale highlighted the negative impact this could have on the silver trade and other precious metals. He also mentioned that a trade research firm called GTRI has called for an investigation into the matter.
Gokhale demanded answers from the Central Government regarding the preferential treatment given to GIFT City and the creation of a monopoly in favor of Gujarat. The MP’s claims have sparked concerns about transparency and fairness in trade practices at GIFT City.
As the controversy unfolds, it remains to be seen whether authorities will investigate the allegations and take necessary action to address any wrongdoing in the silver trade through GIFT City.
