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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DRI seizes cigarettes worth Rs 23 cr at Surat port
In one of the biggest foreign cigarette hauls, officials from Directorate of Revenue Intelligence (DRI) at Surat identified and detained six containers from Dubai trying to smuggle imported cigarettes worth Rs 23.29 crore into the country.
While, two of the containers were supposed to contain waste paper, the remaining four were to contain LDPE regrind. The containers were under transshipment from Adani Hazira Port, Surat, and had been imported by two Bhuj-based parties.
http://indianexpress.com/article/cities/mumbai/dri-seizes-smuggled-cigarettes-worth-rs-25-cr/
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Cigarette trafficking spawning other crimes
One frigid afternoon in January, two men transferring cigarettes to a van from a Glen Allen rental storage unit were interrupted by robbers who ordered them to the floor and held them at gunpoint. The thieves finished loading the vehicle and then drove it off with $90,000 worth of cigarettes and $25,000 in cash.
Four men have been charged by federal authorities in that robbery and three other recent Richmond-area holdups that netted hundreds of thousands of dollars’ worth of cigarettes and cash.
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Dewsbury woman Shantaz Bi caught smuggling 55,000 cigarettes in 8 suitcases
A woman was caught trying to smuggle 55,000 cigarettes into Britain. Now Shantaz Bi, of Dewsbury, has been given a suspended jail sentence. Bi, who is unemployed, tried to evade detection by wrapping the hundreds of packets in tinfoil in a crude attempt to hide them. It is thought she planned to sell them in Dewsbury. She has been sentenced after an investigation by HM Revenue and Customs (HMRC).
http://www.examiner.co.uk/news/west-yorkshire-news/dewsbury-woman-shantaz-bi-caught-8932847
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