Bollywood legend Sridevi passes away due to cardiac arrest in Dubai

Mumbai, Jul 30: Counterfeiting incidents have increased 24 per cent in the country in 2019 over the previous year, creating an over Rs 1 lakh crore hole in the economy, according to a report.

The report also said counterfeiters are having a free run due to the pandemic-driven disruptions to organised supply chains and the resultant spike in consumer demand.

According to the report by ASPA, a self-regulated industry body of anti-counterfeiting and traceability solutions providers, counterfeiting has risen steadily in the last few years, and exploiting the pandemic as a cover for their activities.

Between February and April 2020, over 150 incidents of counterfeiting cases were reported, mostly about fake PPE kits, sanitisers and masks taking advantage of the high demand for these products, it noted.

"There was a 24 per cent increase in counterfeiting in 2019 over 2018, leading to the loss of more than Rs 1 lakh crore to the overall economy," said Nakul Pasricha, president of Authentication Solution Providers Association.

The association works with global authorities like the International Hologram Manufacturers Association, Counterfeit Intelligence Bureau of the Interpol, and domestic industry lobbies like Ficci, he said.

Counterfeiting is a universal issue and is 3.3 per cent of global trade, according to the OECD data, impacting social and economic development across the world.

The report lists the currency, FMCG, alcohol, pharma, documents, agriculture, infrastructure, automotive, tobacco, lifestyle and apparel, as the 10 sectors impacted most by counterfeiting.

Among these, currency, alcohol and FMCG continue to be the top three sectors with the highest counterfeiting in the last two years. The FMCG sector is most vulnerable, as counterfeit incidents rose 63 per cent between 2018 (79) and 2019 when the reported cases jumped to 129.

Within the states, the fakers have a free run in Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh, Bengal, Punjab, Jharkhand, Delhi, Gujarat, and Uttarakhand, calling for urgent actions to frame anti-counterfeiting policy measures.

According to the report, UP continues to be on top followed by Bihar, Rajasthan, and together these three states represent almost 45 per cent of all counterfeiting reported in the last two years.

What is more alarming is that counterfeiting is not limited to high-end luxury items today, as common everyday items as fake cumin seeds, mustard cooking oil, ghee, hair oils, soaps, baby care vaccines and medicines are aplenty in the markets.

"There is an urgent need for building and nurturing authentication ecosystems in the country with the active involvement and active participation of all stakeholders," said Pasricha.

Mumbai, Aug 3: Megastar Amitabh Bachchan says he has immense gratitude for the doctors who provided him with medical care for Covid-19 and feels overwhelmed to be free of the virus finally.

Amitabh, on Sunday, tested negative for the novel coronavirus and was discharged from hospital.

The 77-year-old actor was admitted to Nanavati hospital along with son Abhishek after testing positive for Covid-19 on July 11. Abhishek, 44, is still positive and will remain under medical care.

"It has been heartening to be back from the Hospital after the ‘mukti’ from the coronavirus but a sour taste in the mouth when Abhishek has to still be in the medical care," Amitabh wrote in his blog.

The actor said doctors are tirelessly working towards battling the virus "each hour" through consultation, sharing of information and experience with their fraternity from other parts of the world which gives "the hope of repair."

"Assuring us each minute that ‘all shall be well’ , when in fact they themselves struggle to find that confirmed patent that can be used, delivered, executed to save lives and conditions from the virus.

"When I had addressed them as 'angels in white' I had never imagined that I would be supine in their midst to savour their angelic presence, as they give us hope, inspiration and the strength to fight. They are quite quite remarkable. My gratitude shall never fail for them... feeling bad for Abhishek .. prayers he comes home soon," he added.

On Sunday, Abhishek thanked well-wishers for their continued support and said he would remain under medical care.

"I, unfortunately, due to some comorbidities remain Covid-19 positive and remain in hospital. Again, thank you all for your continued wishes and prayers for my family. Very humbled and indebted. I'll beat this and come back healthier! Promise," he wrote.

Abhishek's wife, actor Aishwarya Rai Bachchan, 46, and eight-year-old daughter Aaradhya were discharged from the hospital on Monday after testing negative for Covid-19.