FICCI CASCADE organizes seminar on the problem of counterfeiting & smuggling

FICCI CASCADE the anti-smuggling and anti-counterfeiting arm of the industry body FICCI recently organized a seminar on ‘Combating Counterfeiting and Smuggling, an Imperative to Accelerate Economic Development’ in the city of Bhopal.

Counterfeiting is a growing problem and can be effectively countered with appropriate policies said experts present at the seminar. The experts discussed the urgent need for awareness on the hazards of duplication and smuggling. They also raised concerns on the level of enforcement of anti-counterfeiting policies for the overall growth of the country.

Justice (retired) N.K Jain, Judge of MP High Court and Chairman, Madhya Pradesh State Consumer Redressal Commission praised and encouraged FICCI CASCADE’s dedication to eradicate smuggling and illicit trade in the country. Besides this, he also mentioned that a lot more is required to change the outlook of the common man with regard to the use of counterfeit and smuggled goods. Counterfeiting and smuggling of goods not just block the economic growth of a country but is equally detrimental to the health and society. He further commented on the need for strict regulations and effective implementation of the same to curtail the problem.

Anuradha Sharma, Additional Director General, Madhya Pradesh Police stated that counterfeiting and smuggling is an important issue and negatively impacts the health and safety of the common man. This has also led to tax and revenue losses of the industry. The issue is highly critical and needs a collaborative action from all stakeholders.

According to a report released by FICCI CASCADE in 2015, the overall loss to the government on account of illegal markets in seven manufacturing sectors is Rs 39,239 crores.

Source: Daily Pioneer

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