FICCI Organises ‘MASCRADE 2017’ to Tackle Counterfeiting

News Holostik

To raise awareness about the various aspects of counterfeiting like digital counterfeiting, physical counterfeiting etc, FICCI is organising a two-day event — ‘MASCRADE 2017 — Movement Against Smuggling and Counterfeit Trade’ from October 12. Some of the most important International institutions including World Customs Organisation, Interpol, United Nations Office for Drugs and Crime, Organisation for Economic Corporation and Development (OECD) and US Homeland Security will represent at this event.

Industry chamber FICCI has recently raised concerns over the ever-increasing problem of smuggling and counterfeiting in India.

The agency has said that widespread smuggling, counterfeiting and piracy can hamper India’s goal of becoming a manufacturing hub of the world. A huge market of smuggled and counterfeit goods is thriving on Indian soil and probing the biggest challenge on the Indian industry.

“India today has the potential to become a global manufacturing hub. However, widespread smuggling, counterfeiting and piracy, can act as a dampener in achieving this goal.”

FICCI

FICCI’s recent study has revealed that in two years between 2012-14 in seven major sectors viz tobacco, alcoholic beverages, auto components, computer hardware, FMCG packaged goods, FMCG personal goods and mobile phones, the supply of illicit goods have increased by 44.4 %.

FICCI added that the genuine goods collectively suffered an annual sales loss of Rs. 32,412 crore, while the government’s loss in tax revenue went up by Rs. 13,049 crore. It has also been estimated by the Directorate of Revenue Intelligence (DRI) that the extent of smuggling in India is maximum for gold, cigarettes, machinery parts, electronic items along with fabric and silk yarn.

Elaborating on the issue, it said, “Illicit trade in terms of counterfeiting, smuggling and piracy are highly pervasive across countries and sectors, representing a multi-billion-dollar industry that continues to grow and impact commerce and industry, governments, economies and the society at large. There is also no doubt that the illegal money generated through illicit trade is a major source to finance dangerous activities such as terrorism, insurgency and other organised crimes.”