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
CUSTOMS SEIZE 12,000 DUTY-UNPAID CIGARETTES
Macau Customs Service authorities seized roughly 12,000 duty-free cigarettes...
NHSRC Poised To Enact Controversial Cigarette Warning Label
A coalition of health and labor groups on Monday submitted a pair of initiatives...
Belarusian government agencies involved in smuggling apples to Russia
Russia's agricultural watchdog Rosselkhhoznadzor revealed new smuggling schemes...
Illegal tobacco hidden in Chinese cargo
A Chinese national faces deportation or up to 10 years in jail for illegally...