FICCI meet highlights menace of counterfeit products

The menace posed by counterfeit products such as auto parts and packaged foods was highlighted at a seminar on combating duplicates of popular brands held here today.

Speakers at the event discussed various aspects of the counterfeit problem, including the government incurring losses running into thousands of crores, apart from health hazards.

The meet – ‘Combating Counterfeiting and Smuggling An Imperative to Accelerate Economic Development’ was organised by Federation of Indian Chamber of Commerce and Industry’s (FICCI) Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE).

Advisor, FICCI, CASCADE, P C Jha said the estimated loss to the industry in sectors including alcoholic beverages, auto components, computer hardware, FMCG packaged foods and FMCG personal goods, mobile phones and tobacco had increased by Rs 32,412 crore between 2011-’12 to 2013-’14.

http://www.business-standard.com/article/pti-stories/ficci-meet-highlights-menace-of-counterfeit-products-118032701019_1.html