Gold worth more than $74,000 and $38,000 in cash was seized by Indian customs officials from passengers travelling to and from Dubai this week.
Undeclared gold was confiscated from an Indian passenger arriving from Dubai into Indira Gandhi International Airport in Delhi on Tuesday, April 19.
The man was wearing a heavy gold chain around his neck and was found with gold bars stuffed in his pockets as he walked through the airport's arrivals area. He was arrested and officials say an investigation is ongoing.
Two days earlier and customs officers at the same airport intercepted an Indian passenger about to board a flight to Dubai with a suitcase full of cash.
The Indian passenger was picked up at IGI Airport on Sunday, April 17, with a bag containing Saudi Arabian riyals and UAE dirhams worth around $38,000.
To crack down on money laundering, authorities have limited the amount of undeclared cash that can be brought from India into Dubai to $3,000.
While there is no limit to how much of a foreign currency can be taken out of India, notes, coins or travellers cheques exceeding $10,000 must be declared.
No customs duties are paid on cash up to Dh100,000 brought into the UAE, but it must be declared by filling out relevant forms prior to departure.
However, restrictions are in place to control the amount of gold taken into India.
Since April 1, 2016, male passengers have been able to bring in up to 20 grams of gold worth Rs50,000 ($654) duty free, while women are allowed to take twice that amount before paying tax.
Gold jewellery exceeding that amount must be declare at customs and import duty paid to the government.
Since February 2021, the tax on imported gold is 10.75 per cent.