New Indian rule backfires, boosts unofficial gold trade
If rule fails, it will thwart Modi's efforts to curb imports and stop the metal from being used to hide "black money"
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Mumbai
TRY as it might, the Indian government appears to be unable to curb the country's love for gold.
Its latest attempt - a rule forcing buyers of high-value jewellery to disclose their tax code - has boosted unofficial trading in the world's second-biggest gold consumer, industry experts say, rather than promote transparency and dent demand.
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