Madras (PTI): The +Gold Rush expected after the Indians (NRD) returning home after a stay of at least six months abroad to bring five KGS of Gold per head has not materialized to any great extent so far in the Southern Indian State of Tamil Nadu. In fact during the first two weeks of March only around 950 grams of Gold mostly in the form of jewelry was imported Via Maras the capital of the state.
However on Monday last according to customs sources a New York-Madras passenger brought in one KG of Gold and paid the requisite duty of 15 per cent in foreign exchange. It is still to0 early according to the sources 0 gauge the impact of the new policy as many NRI’s coming to India may not have realized+ that the policy came into effect from March 1 this year.
Article extracted from this publication >> April 3, 1992
