Indian Express – Ficci Cascade

‘Telangana must spruce up to combat counterfeiting’

by adminJune 13, 2018 Indian Express, News0 comments

HYDERABAD: To combat smuggling and counterfeiting activities that is draining India’s economy, the State machinery needs to be spruced up to make law enforcement effective. This was the take away from the Federation of Indian Chambers of Commerce and Industry (FICCI) CASCADE seminar on Combating counterfeiting and smuggling, held on Tuesday in Hyderabad.

“Consumers need to be educated about counterfeit goods as these days there is a narrow gap in the quality difference in packaging between the original and counterfeit goods making it difficult to differentiate,” said State finance minister Etela Rajender at his inaugural address.

The speakers pointed out that buying counterfeit and smuggled goods has led to loss of jobs in the country and as these sectors operate outside the taxable economy.

http://www.newindianexpress.com/states/telangana/2018/jun/13/telangana-must-spruce-up-to-combat-counterfeiting-1827495.html

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Incidents of cigarettes, tobacco smuggling jump 136% in 2 yrs: FICCI

by adminMarch 27, 2018 Business Standard, Indian Express, News0 comments

Incidents of cigarettes and tobacco products smuggling in India increased by 136 per cent in 2016-17 from 2014-15, according to a report by FICCI CASCADE.

The number of incidents of smuggling of cigarettes and tobacco products increased to to 3,108 cases in 2016-17 from 1,312 cases in 2014-15, it added.

FICCI CASCADE, an industry body working on addressing the issue of illicit trade activities in India, also said that while there is an increase in vigilance by enforcement agencies, seizures were only the tip of the iceberg of a much larger and threatening operation in illegal trade in the country.

Maximum revenue loss to the exchequer came from illicit trade of tobacco products, mobile phones, alcoholic beverages, it said. The report said the total loss to the government on account of illicit trade in just seven manufacturing sectors was Rs 392.39 billion in 2014.

http://www.business-standard.com/article/economy-policy/incidents-of-cigarettes-tobacco-smuggling-jump-136-in-2-yrs-ficci-118032700427_1.html

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Kingpin’ of gutka smuggling racket arrested; bond papers, cash worth Rs 1 crore seized

by adminJuly 23, 2017 Indian Express, News0 comments

CHENNAI: A man, who police believe to be the ‘kingpin’ in gutka smuggling racket in the city, has been arrested. Police seized from his house bond papers and cash totally worth about Rs 1 crore.
Police officers said a search was conducted at the house of P Prithesh Kumar Tiwary, 39, at KK Koil Street at Choolai on Friday night. “When we reached the house, he managed to escape.

But, when we searched the house, we found bond papers valued at Rs 52 lakh, 200 grams of gold and Rs 50 lakh in cash,” said an officer involved in the investigation. On Saturday, Tiwary surrendered to police.

Police sources said the search was conducted based on a tip-off from the crackdown on gutka sales in the city. As many identified Tiwary as one of the suppliers of the contraband, police conducted the search.

http://www.newindianexpress.com/cities/chennai/2017/jul/23/kingpin-of-gutka-smuggling-racket-arrested-bond-papers-cash-worth-rs-1-crore-seized-1632302.html

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Buyer Beware: Real Rubies Or Fake Gems?

by adminficciMay 5, 2015 Indian Express, News0 comments

Second only to diamonds in the hierarchy of precious gems, rubies are the most valued of all the colored stones.
Mary Kay Elloian was thrilled to find a pair deeply discounted at just $100.
“I was buying ruby, a pair of ruby earrings. That’s what I requested and that’s what I was buying,” Mary Kay said.
At least that’s what she says the salesperson at Macy’s in the Northeast told her she was buying, but when she got the earrings home, she noticed a partially-covered sticker with fine print.

http://miami.cbslocal.com/2015/05/05/buyer-beware-real-rubies-or-fake-gems/

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