FICCI recently launched its report at MASCRADE 2017, titled Illicit Trade: Fuelling Terror Financing and Organised Crime. According to this report, many terrorist organisations, including Al Qaida, Hezbollah, Lashkar-e-Tayiba, and the Irish Republican Army, depend on illicit trade for financing up to 20% of their terror operations. Continue reading “Global Terrorism Relying on Illicit Trade of Cigarettes”
According to a recent study released by FICCI, the illicit trade related to tobacco has led to a loss of Rs. 9,139 crore to the exchequer. Several other losses due to illicit trade of mobile phones at Rs. 6,705 crore and alcoholic beverages at Rs. 6,309 crore have also been bored by the exchequer. Continue reading “Exchequer Incurs Huge Losses Owing to Counterfeit Tobacco – FICCI Report”
We all know what counterfeits are- fake, cheap quality lookalikes of branded products intended to fool the buyers into thinking they are genuine. Counterfeiting is one of the major challenges grappling the world economy today causing a havoc to the world economy (it’s a $250 billion per annum industry!) as well as to businesses and the consumers using these products. The ramifications for counterfeiting are also massive for governments, as counterfeiting fuels the hand of organised crime. As such, it has become imperative for us to understand why counterfeiting takes place and what are the different methods to curb this billion-dollar problem.