
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.
Comments
Sngha parivar sarkar and Corporate pulled India 10 years back and Looting India by increasing price for oil, gas and other products, neglecting farmers, unorganised sectors, drop in GDP, high cost living, middle class people dropped thier status to poor category, no planning comision, no pancha warshika yogana.....
for common people India became hell and totally frustrated. Rulers are wwasting time to divide india in the name of religion instead of working on developments. Uneducated and stupid personality like him ruling India including burocrates. qualification is not a eligibility to rule in India. Only hate mongers are selected for all the positions. We cannot blame them as the great fools are Peoples of India repeatedly electing hate mongers. will dream "acche din ayega" jai hind
Who he is "BASTURD" chopping finger; if it is against "Stupid modi"
Cheddi sandesh spotted..!
Well said mr. Nityanand Rai. Unculture Indian people dont know how to respect our hon. PM
I am rising my middle finger against Modi. Fool. Chop my finger
If you talk againts INDIAN constituiton ready to face the worst or public may drag you from the position.
Modi is the PM elected represnetative not a God. World has seen several dictators and thier worst end.
So suggest not to jump.
All the comments all we hear is the man agenda and advise from Nagpur else who will talk such anti INDIA slogans.
The more U bring people to do EVIL , the more, RSS will reward the bow bow leaders. and a fact done with the devils to destroy the young hindu generation to do evil in the society.
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