Smuggling, piracy hindering India’s manufacturing growth: Ficci
NEW DELHI: Widespread smuggling, counterfeiting and piracy can affect India’s goal of becoming a manufacturing hub of the world, industry body Ficci today said.
The market for contraband, smuggled and counterfeit goods is thriving in India and is today one of the biggest challenges faced by the domestic industry, it said in a statement.
“India today has the potential to become a global manufacturing hub. However, widespread smuggling, counterfeiting and piracy can act as a dampener in achieving this goal,” the chamber said. It said according to a CASCADE (Committee against Smuggling and Counterfeiting Destroying the Economy) study, supply of illicit goods have increased 44.4 per cent between 2012 and 2014 in sectors such as tobacco, alcoholic beverages, auto components, computer hardware and FMCG.
Related Posts
Illegal liquor seized, one arrested in Alipurduar
On Friday, Ahmed was produced in a court and remanded in police custody for seven...
No ban on tobacco imports for now, says Sitharaman
Reiterating the government’s stance in reply to members’ concern in the Lok Sabha...
Assam police busts illegal Burmese cigarettes smuggling in Jirighat, near Manipur Border
Huge number of Burmese cigarette bundles were recovered from two Tata trucks...
Fake oil: Indian national gets suspended sentence, fined for dealing in counterfeit oil in Mpumalanga
The 46-year-old woman was on trial after she was found with drums of fake oil...