High Biz Volume Sees Chennai International Airport Empanel Bullion And Precious Stone Valuers

It is reportedly the fifth busiest airport by passenger traffic and aircraft movements in India. It is also the third busiest airport by international traffic. In 2023–24, it handled over 21 million passengers. Well, the Chennai International Airport is turning out to be hectic by the day. Handling such heavy traffic and facilitating customs processes prove a big challenge for the authorities. Well, the government is quite aware of this. The Ministry of Finance has decided to appoint approved valuers for assessing gold, silver, jewellery and precious stones at Chennai International Airport. It has already come out with a notification inviting nominations for a panel of valuers responsible for assaying and valuing precious items for both accompanied and unaccompanied passengers, as well as for issuing export certificates. The appointed valuers will also handle the valuation of seized or confiscated goods. One of the requirements for appointment is that they should be available at any time. Qualified assayers, valuers or jewellers affiliated with recognized associations are eligible for submitting applications. “The assayer/valuer is required to present himself /herself before any adjudicating authority / appellate authority/ courts to give the evidence/ produce the relevant records, as and when required,” it said. A valuable initiative, it appears!