Fake products: 80% of consumers believe they use genuine ones, say FICCI
NEW DELHI: Around 20 per cent of accidents on Indian roads are caused by counterfeit automobile parts, while 30 per cent of FMCG items sold are fake, but 80 per cent of consumers still believe that they are using genuine products, according to FICCI CASCADE.
Stating that illicit products are adversely affecting Indian consumers, the industry body which is working on addressing the issue of unlawful trade activities in India, said there’s an urgent need to increase not just awareness in consumer but also among lawmakers and enforcement agencies.
FICCI CASCADE(Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) further said counterfeiting and illicit trade has also led to huge revenue loss to the exchequer.
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