Counterfeiting & smuggling to cost govt Rs 1.6 trillion by 2016: Ficci

 

Counterfeiting and smuggling activities have been increasing at an annual rate of 15% in the country and would cost government Rs 1.6 trillion by 2016, revealed the Federation of Indian Chambers of Commerce and Industry’s (Ficci) anti-counterfeiting committee on Friday.

The revelation was made during a 90-minute programme held by the Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (Cascade) here. The programme was aimed at sensitizing police officers about the impact of counterfeit and smuggled goods.
 

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