44% increase in manufacturing sector losses due to illicit trade: study
Illicit trade in seven major manufacturing sectors has increased industry losses by 44 per cent in two years, said a study. Government tax (direct and indirect) losses have also increased almost 50 per cent to Rs 39,239 crore in 2014, from Rs 26,190 crore in 2012 due to this.
Federation of Indian Chambers of Commerce and Industry (Ficci) and the Committee Against Smuggling And Counterfeiting Activities Destroying the Economy (Cascade) commissioned the study, which focused on seven prime manufacturing sectors — auto components, alcoholic beverages, computer hardware, fast moving consumer goods (personal), FMCG packaged foods, mobile phones, tobacco and media and broadcasting.
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Amazon files first-ever suit over fake product reviews, alleging sites sold fraudulent praise
Amazon has filed suit against the alleged operators of sites that offer Amazon sellers the ability to purchase fake 4- and 5-star customer reviews of their products. The suit, the first of its kind from the Seattle company, was filed in King County Superior Court against a California man, Jay Gentile, identified in Amazon’s filings as the operator of buyazonreviews.com. The site also targets unidentified “John Does” who operate similar sites: buyamazonreviews.com, bayreviews.net and buyreviewsnow.com.
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Oman crime: Customs seize contraband cigarettes, tobacco in Seeb
Some expatriates were arrested on the charges of trafficking of contraband, and 2,918 cigarettes packets of various brands and more than 93 kilogrammes of chewing tobacco were seized from them, a reliable source at the Royal Oman Police (ROP) said.Personnel of the General Administration of Customs raided three houses in Seebwilayat inhabited by expatriate workers who were storing smuggled goods there, according to the ROP.
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Manufacturing sector losses increased 44 per cent due to illicit trade: Study
Seven major manufacturing sectors suffered an estimated loss of Rs 1,05,381 crore during 2013-14 due to illicit trade, according to a FICCI report.
The study on ‘Illicit Markets’ focused on seven major manufacturing sectors — auto components, alcoholic beverages, computer hardware, FMCG personal goods, FMCG packaged foods, mobile phones and tobacco.
On account of illicit trade, FICCI-CASCADE report said, the estimated loss to these seven sectors has increased by 44.4 per cent.
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Government flags illicit trade as a major deterrent to India’s growth
Union Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan, has emphasised that illegal trade activities such as smuggling and counterfeiting are a major setback to India’s growth and development. This not only hinders the nation’s progress but also leads to corruption and black money generation.
Given the current emphasis on the ‘Make in India’ campaign, it becomes imperative that the quality of the products available is not sub-standard and fake. The Minister added that illicit trade impacts all sections of society hence it becomes essential to control the quality of goods available in the market. He said that his ministry would be keen to work with FICCI CASCADE in addressing these issues and invited recommendations in this regard.
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अवैधकारोबारकेचलतेसरकारऔरइंडस्ट्रीकोहोरहाबड़ाघाटा
नईदिल्ली।अवैधकारोबारऔरफ्रॉडकेजरिएदेशकीग्रोथकोबड़ाझटकालगरहाहै।बुधवारकोफिक्कीनेअवैधकारोबारसेसबसेज्यादाप्रभावितहोनेवालेनौविभिन्नसेक्टर्सपरआधारितएकरिपोर्टजारीकी।इन्हेंदोधड़ोंमेंरखागयाहै।पहलेसेगमेंटमेंफएमसीजीपैकेज्डफूड, पर्सनलगुड्स, कंप्यूटरहार्डवेयर, ऑटोमोबाइल, मोबाइलफोन, तंबाकू, एल्कोहॉलऔरदूसरेसेगमेंटमेंब्रॉडकॉस्टिंगएंडमोशनपिक्चर्ससहितमीडियाएंडइंटरटेनमेंटमेंहोरहेअवैधकारोबारकोशामिलकियागयाहै।
रिपोर्टकेमुताबिकअवैधकारोबारकेचलतेनसिर्फइंडस्ट्रीकीसेल्सबल्किसरकारकेरेवन्यूकोभीबड़ाचूनालगरहाहै।फिक्कीनेइसकीरोकथामकेलिएसरकारकोतुरंतकोईसख्तकानूनबनानेकीअपीलकीहै।
Lear MoreManufacturing Sector Losses Up 44% Due to Illicit Trade: Report
Seven major manufacturing sectors suffered an estimated loss of Rs 1,05,381 crore during 2013-14 due to illicit trade, according to a report by industry body Ficci. The report on ‘Illicit Markets’ focused on seven major manufacturing sectors – auto components, alcoholic beverages, computer hardware, FMCG personal goods, FMCG packaged foods, mobile phones and tobacco.
On account of illicit trade, Ficci-CASCADE report said the estimated loss to the seven sectors has increased by 44.4 per cent in just two years – from Rs 72,969 crore in 2011-12 to Rs 105,381 crore in 2013-14.
Moreover, government tax (direct and indirect) losses increased almost 50 per cent to Rs 39,239 crore in 2014 from Rs 26,190 crore in 2012, the report noted.
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If it’s Being Made, It’s Being Faked
As an apparel or footwear company, do you struggle to create a brand protection program with teeth? Do you know where to look? Who to believe? What will really work for you?
If so, look no further than the newest and only ISO standard specifically designed to create a framework for custom solutions. ISO 12931 will be your most comprehensive guideline to addressing the key brand protection issues relating to counterfeiting, diversion and fraud as it relates to your company and your products.
http://apparel.edgl.com/news/If-it-s-Being-Made,-It-s-Being-Faked99945
Lear MoreAs duties make cigarettes expensive, foreign brands like Luvin Fresh surreptitiously enter the market
NEW DELHI: GudangGaram, Djarum Black, Luvin Fresh or A Mild might induce a haze of unfamiliarity in the minds of most people in India, but these are some of the hottest names that have prompted enforcement agencies to smoke out those who are bringing such foreign cigarette brands into the country on the sly.
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Illegal tobacco costs $200M a year
The Lebanese treasury can boost revenues by up to $200 million if authorities succeeded in a campaign to crack down on tobacco smuggling, Finance Minister Ali Hasan Khalil said Thursday.
“The amount of money which is being squandered and wasted as result of tobacco smuggling ranges between $150 million to $200 million a year,” Khalil said after touring the facilities of state-run tobacco company Regie.
http://www.dailystar.com.lb/Business/Local/2015/Apr-03/293166-illegal-tobacco-costs-200m-a-year.ashx
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