FMCG sector: Govt loss at Rs 16,546 cr due to counterfeit brands

To curb the growing menace of counterfeit brands, FMCG companies ITC and Coca-Cola India, along with the Federation of Indian Chambers of Commerce and Industry (Ficci), are planning to take stringent steps in the next few months. To start with, Ficci’s committee against smuggling and counterfeiting activities destroying the economy (CASCADE) has initiated a pan-India movement against smuggling and counterfeiting amongst youth and consumers. “We are organising the first policy debate of an international level next fortnight in Delhi. Our objective is to enhance our understanding of ‘grey markets’ for smuggled, counterfeit and pirated commercial goods in and outside India, to assess their impact, and to promote effective strategies,” said Anil Rajput, chairman of Ficci CASCADE.

http://www.indianexpress.com/news/fmcg-sector-govt-loss-at-rs-16546-cr-due-to-counterfeit-brands/1164967/