DRI uncovers illegal use of SAFTA agreement in arecanut imports to India
AI Summary
The Directorate of Revenue Intelligence (DRI) has uncovered illegal exploitation of the South Asian Free Trade Area (SAFTA) agreement in arecanut imports to India. Investigations revealed a fraudulent scheme resulting in customs duty fraud exceeding ₹2,500 crore over recent years.
The investigations have revealed the fraudulent import of arecanut, in which the exchequer was duped of customs duty in excess of ₹2,500 crore in recent years
Politics Markets Commodities DRI SAFTA arecanut customs fraud India imports trade violation exchequer loss