The Indian automotive industry went through some tough times in the year 2019. The double digit de-growth and unprecedented slowdown were a result of several contributing factors. Among these, the growth of the Indian counterfeit auto parts market adversely affected the auto industry.
As recorded by the Authentication Solution Providers’ Association (ASPA), the Indian counterfeit auto parts market was worth Rs 1 lakh crore in 2019. Despite many attempts at solving this problem, the fake auto parts market is unfortunately thriving in India and the ongoing slowdown has led to many OEMs struggling to find a solution for the same.
According to a FICCI-Cascade report, counterfeiting in the auto sector results in tax revenue loss of about Rs 2,200 crore to the government.Lear More
Counterfeit product sales are at an epidemic level and it seems unstoppable. The international trade in non-domestic counterfeit and pirated products equates to $509 billion annually and growing . This represents up to 3.3% of world trade. Alarmingly it is a growing trend, showing a 10.5 per cent increase on the previous 2013 figures. Also, according to US Customs & Border Protection data, over 75 percent of goods seized between 2004 and 2009 were manufactured [in China].
I think it’s fair to say that this growth in counterfeit sales is driven by two things, consumer demand and efficient channels to market. From a consumer perspective, buying a fake product seems like a win for the buyer and a ‘no foul’ transaction. The reality is far more sinister. First of all because counterfeit products can be dangerous and even deadly. For instance, FICCI CASCADE, an industry body in India estimates that “Nearly 20 per cent of accidents on Indian roads are caused by counterfeit auto-products. Further in the FMCG sector, 30 percent of goods sold are fake and 80 per cent of consumers believe that they are using genuine products.” Additionally, proceeds from counterfeiting are used to fund illegal and terrorist activities. Most disturbingly, it is reported that forced child labour is used in the manufacture of fake luxury and other goods. With witnesses seeing first-hand children chained, mutilated and underfed while working long hours. Counterfeit sales also have a knock-on impact on reduced jobs and stifling innovation, which is bad for society as a whole.
Ramesh Chand Meena, Minister for Food, Civil Supplies & Consumer Affairs, Government of Rajasthan, today said that crimes related to counterfeiting and smuggling have increased across the world.
He made the observation while speaking at FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) seminar on ‘Containing Counterfeiting and Smuggling – A Step Towards Prosperous Nation Building’.
“Counterfeiting and smuggling related crimes have increased manifold in the global market resulting in revenue loss to government and businesses and adversely impacting the health and safety of the consumers” Mr Meena said.
Extending his support, the Minister sought close collaboration with FICCI CASCADE to address the issue. The seminar discussed the importance of increased awareness on the hazards of counterfeiting and smuggling, and need for effective enforcement to enhance India?s economic development.
KL Jain, Member, FICCI Rajasthan State Council & Honorary Secretary General, RCCI, said that illicit trade has a serious decelerating effect on growth which must be curbed substantially. Consumers must be emphasized on taking a bill on every purchase for making India a tax compliant nation and encouraging citizens to be a part of progressive nation building.
Hong Kong Customs has seized some 10,000 counterfeit products destined for the US in a targeted operation to combat cross-boundary counterfeiting activities.
The goods had an estimated street value of about HKD1.1 million (US$141,000), were seized, including medicines, mobile phones, handbags, shoes and clothing.
The seizures resulted from a sharing of intelligence with US regulatory authorities, something Hong Kong Customs says it expects to continue as it targets cross-boundary counterfeiting activities to a variety of other countries.
Under Hong Kong’s Trade Descriptions Ordinance, anyone who imports or exports goods with a forged trademark commits an offence. The maximum penalty upon conviction is a fine of HKD500,000 ($64,400) and imprisonment for five years.
Officials of Chattogram Custom House yesterday seized a consignment of cosmetics.
Customs officials said they would be able to ascertain exact value of the seized product in a day or two.
For the clearing preparation the tax rate are 53 percent while for cosmetics it stands up to 127 percent, officials said.
Dhaka-based Fatema International has declared 24 tonnes of clearing preparation from Thailand, which assigned OSL Trade Pvt Ltd to release the consignment.
Nur-A-Hasna Sanjida Anushua, assistance commissioner of customs, said the importers and C&F agents were announced as clearing preparation.
“We notified the importer and the C&F agent several times to take the consignment after physical examination but they refused to do so every time,” she added.
AHMEDABAD: Kagdapith police on Saturday night seized 7,142 bottles worth Rs 7,64,000 of different brands ofcough syrup containing codeine from Devanshi Pan Parlour in Behrampura and from a rented house in Suvrna Rukha Society in Danilimda.
Inspector U D Jadeja of Kagdapith police station said they have arrested the shopowner, Pankaj Danagar, while the supplier of the stuff, Bharat Chaudhary, is on the run.
“We have registered a case under sections 8C, 21C and 29 of NDPS act. We are looking for Chaudhary who is the kingpin of the racket,” said Jadeja. Police sources said that with booze in short supply, alcoholics have begun turning to cough syrups to get their kicks.
“On Saturday evening, following up on a tip-off, we sent a decoy to the pan parlour. The owner gave our man a cough syrup without a bill or prescription. We raided the shop and found 21 bottles,” said sub-inspector K A Jadeja. During the shopowner’s interrogation, he revealed that cough syrup bottles containing codeine were stocked at his rented house. “Dangar also confessed that Chaudhary used to supply the cough syrup to him,” said a police official.
Federal officials seized an estimated $123 million worth of counterfeit sports goods for teams playing in the Super Bowl ahead of Sunday’s big game in Miami.
In a statement, Immigration and Customs Enforcement said officials found more than 176,000 counterfeit sports-related items during Operation Team Player.
Agents with the Customs and Border Protection along with ICE’s Homeland Security Investigations and Miami-Dade officiers seized the counterfeit items from flea markets, retail outlets and street vendors over the past week as part of the effort. They included fake jerseys, hats, jewelry, cell phone accessories and other items.
ICE shared a photo of the items, some of which had logos for the Kansas City Chiefs and the San Francisco 49ers who are set to battle it out at the Hard Rock Stadium in Miami on Sunday night.
“Operation Team Player remains one of the most important national initiatives for protecting sports fans from the sale of counterfeit products and counterfeit tickets,” said Dolores DiBella, NFL’s vice president of legal affairs.
New Delhi: Two Afghan nationals and two Indians were detained in the past 48 hours at Delhi’s IGI Airport in three separate cases of smuggling foreign currency worth crores, according to Central Industrial Security Force (CISF).
In the first case, CISF personnel recovered $ 31,000 (about Rs 22 lakh) from two Afghan nationas identified as Abdul Saboor Amiri and Zafar Mohammad Nazari on January 30. The accused were bound for Kabul by Kam Air flight.
The suspects could not produce any valid document. They were were handed over to Customs for further action, CISF said.
In the second incident, CISF recovered euro 1,19,200 and $ 2,000 (about Rs 96 lakh) concealed in the turban of a suspect identified as Surinder Singh Seehra bound for Bangkok by NokScoot flight.
The suspect had no valid documents, CISF said.
In the third incident reported on Friday, CISF recovered $ 8050, Kuwaiti dinar 3,505, Saudi riyal 2,500 and Omani riyal 725 (about Rs 16 lakh) from an Indian national, Habibullah, bound for Dubai by Spice Jet flight.
Kushinagar, Jan 31 (UNI) Five people were arrested and a consignment of 138 boxes of illicit, country-made liquor seized from a DCM at a warehouse in the Barwan village of the Kasya area in this district of Uttar Pradesh.
The liquor had been kept hidden amongst sacks of animal food. A motorcycle was also recovered from the warehouse and a case has been registered under various sections against six people including the warehouse owner. All five arrested have been sent to jail.
Police had been receiving information about illegal activities being carried out at the warehouse since one week.
The cops then raided the warehouse based on an information about the consignment, late Thursday night.
A manhunt has been launched for the warehouse owner.
HYDERABAD: Two persons who arrived at the Rajiv Gandhi International Airport (RGIA) from Delhi were nabbed by the air intelligence officials on Wednesday for attempting to smuggle foreign currency to Dubai through a Delhi-bound flight.
Foreign currency in various denominations equivalent to Rs 16.5 lakh was recovered from them, officials said.
In another case, acting on a specific report, the authorities seized foreign cigarettes illegally being transported into the country. Ten cartons of cigarette packets were seized from 10 passengers who arrived in Hyderabad from different locations including Malaysia, Cambodia, and Dubai. The seized property is worth `50 lakh, officials said.