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CAG detects anomaly in India’s pearl imports

The Directorate of Revenue Intelligence had also brought attention to the irregularities, including large-scale round-tripping of gold jewellery and exports of machine-made crude.

Photo by Tiffany Anthony / Unsplash

The Comptroller and Auditor General of India (CAG) has discovered an anomaly in the trade of pearls into India between 2010 and 2020, which is noted to be significantly more than its world production.

The gems and jewellery industry is vulnerable to misuse and money laundering due to the high value of the transactions and foreign exchange, according to the CAG's report. This report was presented to Parliament on Monday.

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