Consider the following statements regarding India's gold import duty structure and its macroeconomic rationale:

Statements

1. India levies a basic customs duty on gold imports in addition to an Agriculture Infrastructure and Development Cess (AIDC), together constituting the effective import tax before the application of IGST.
2. The primary stated macroeconomic objective behind hiking import duties on gold is to reduce pressure on India's foreign exchange reserves by curbing import demand for the metal.
3. Higher import duties on gold have historically reduced smuggling activity, as dearer official prices deter demand altogether.