1953: GOA, INDIA

The video discusses the economic impact of low customs duties in Goa, which leads to increased business and revenue. Luxury goods from the West are available at lower prices compared to the US, but many items are re-exported or smuggled into India. The smuggling of goods, including pearls from Iran, contributes significantly to the black market in Indian cities like Bombay, with an estimated $10 million worth of materials smuggled annually.

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