India’s counterfeit market grows
Counterfeit and smuggled products account for over one fifth of India’s FMCG market according to a study which says sales of fake goods are growing at a faster rate than the overall market.
A report from industry body FICCI and consultancy firm KPMG said that the counterfeit market was increasing at 44% a year, around four times the speed of the FMCG market; it was estimated to be worth some Rs 1.05 lakh crore in 2014.
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