FICCI & National Law School jointly organizes seminar against counterfeiting

While speaking at a seminar on ‘Communication, coordination, and collaboration-strengthening the fight against counterfeiting and smuggling organized by FICCI CASCADE, Justice Pratibha M Singh a Delhi High Court Judge said, “India needs to strengthen the enforcement and have better national and international cooperation against counterfeiting”.

She also emphasized on the need for education and awareness among the consumers, especially the youth to mitigate the problem of counterfeiting and piracy. The seminar laid emphasis on increasing the awareness on the hazards of counterfeiting and smuggling.

Ullas Kamath, Chairman, Karnataka State Council, FICCI said that the menace of counterfeiting negatively affects the industries, consumers, government and economies. It is important to understand the need for securing the rights of genuine industry in developing competitiveness in different sectors of the economy” he said

Najib Shah, former Chairman, Central Board of Indirect Taxes and Customs & Think Tank Member, FICCI CASCADE said, “”The realization of the damage counterfeiting causes is not appreciated. On the other hand, smuggling results in generation of unaccounted wealth and is the immediate trigger for criminal activities. We should aim to work towards creating an environment where people will want to be innovators and manufacturers and importers without fear of their work being plagiarized or having to compete with smugglers.”

The seminar was organized in collaboration with National Law School of India University, Bengaluru. The Vice-Chancellor also extended his support and ensured that the University will work with FICCI CASCADE in its fight against smuggling and counterfeiting.

According to a recent FICCI report, ‘Illicit trade: Fueling Terror Financing and Organized Crime’, counterfeiting is the second largest source of income for criminal activities such as terrorism, globally.

The report highlights that the total employment losses globally due to counterfeit and piracy stood at 2-2.6 million jobs in 2013 and is expected to rise to 4.2-5.4 million jobs in 2022, an increase of about 110 per cent.

Source: SME Times

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