Treat illicit trade as national threat, Ficci urges government
The Federation of Indian Chambers of Commerce and Industry (Ficci) on Thursday urged the government to tackle smuggling and counterfeiting of goods as national threat, as they result in India losing around Rs. 39,239 crore in taxes every year.
In a letter to various ministries concerned, including Finance Ministry, Ficci’s Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (Cascade) said the top five goods where seizures by the Directorate of Revenue Intelligence (DRI) had been the highest in the past few years have been gold, cigarettes, machinery parts, fabric/silk yarn and electronic items.
The Ficci had earlier revealed facts about and impact of illicit trade in its report “Invisible Enemy – A Threat to Our National Interests”.
Related Posts
Homeland Security helps APD crackdown on fake merchandise
In the last few weeks, investigators with the Austin Police Department have come...
250 bottles of liquor seized on Air India charter flight to Leh
Leh: Excise officers have seized over 250 bottles of liquor that were allegedly...
Driver tried to smuggle ten million cigarettes into Hull disguised as frozen chickens.
A lorry driver caught smuggling almost ten million illegal cigarettes disguised...
Chinese banks a haven for web counterfeits
Kim Sbarcea knew exactly what she wanted. She typed “Tiffany Elsa Peretti mesh...