Lack of awareness helps counterfeits
Lack of awareness helps counterfeits
Lack of consumer awareness is one of the main issues in tackling the counterfeiting problem, say industry players. Even brand owners who deploy solutions to prevent counterfeiting do not spread the awareness, which results in consumers not being able to differentiate between counterfeits and genuine products.
According to the FICCI cascade study released in 2013, the grey market for seven sectors namely alcohol and beverages; auto components; computer hardware; FMCG (packaged food and personal goods); mobile phones, and tobacco products, led to an estimated sale loss of Rs 72,969 crores to the industries and a revenue loss of Rs 26,190 crore to the exchequer.
Related Posts
Cash currency smuggling: Proposed law seeks to increase penalties
The government has promulgated Tax Laws (Second Amendment) Ordinance 2019 for...
Spurious ghee factory busted in Delhi, fake labels of Patanjali, Amul seized
The factory owner, identified as one Sumit, has been booked under provisions of...
CI, MCCS To Conduct Joint Anti-Smuggling Operations
Islamabad—In an attempt to crush cross-border smuggling, Customs Intelligence...
Smuggled cigarettes worth lakhs seized in Mizoram
AIZAWL: In yet another success in the crusade against smuggling activities, a...