Socio–economic Impact of Illicit Trade, Faridabad

26/9/2017 | Faridabad

FICCI CASCADE in association with the National Academy of Customs, Indirect Tax and Narcotics, (NACIN) organized a capacity building programme on the ‘Socio-Economic Impact of Illicit Trade’ on September 26, 2017 in Faridabad. The objective was to sensitize officers of the Indian Revenue Service (Customs, Indirect Tax and Narcotics) on the ill effects of illicit trade, with special focus on the menace of smuggling, on the economy and society as a whole.

Ms. Reena Arya (IRS), Additional Director General, NACIN, in her opening remarks, stated that illicit trade was a global problem of enormous scale, impacting human lives and virtually every industry sector around the world. The speakers deliberated on various aspects and shared their insights on how to handle issues like smuggling and counterfeiting. They also interacted actively with the officers on the ways and means to counter this threat. Some of the key issues discussed were as follows:

1. Developing local intelligence is key to address the challenges related to smuggling
2. Coordinated and serious enforcement is one of the best ways to counter illegal trade in industry
3. Deterrence has to be created for effective enforcement

The capacity building programme was attended by over 120 officers in day-long interactive event.