Counterfeit incidents increased 24% in 2019: Report

Source :IANS
Author :IANS
Last Updated: Thu, Jul 30th, 2020, 20:15:15hrs

New Delhi, July 30 (IANS) Incidents of counterfeiting in India have steadily risen over the last few years and increased 24 per cent in 2019 as compared to 2018, according to a report by Authentication Solution Providers' Association (ASPA).

Titled 'The State of Counterfeiting In India - 2020', the report said that Uttar Pradesh led with the highest number of counterfeiting cases, followed by Bihar and Rajasthan. The three states represent nearly 45 per cent of the total counterfeit incidents reported in India in the last two years.

Madhya Pradesh, West Bengal, Punjab, Jharkhand, Delhi, Gujarat, and Uttarakhand are the other states which require urgent attention to frame anti-counterfeiting policy mechanism, it said.

The top 10 sectors with the highest number of counterfeit cases reported include currency, FMCG, alcohol, pharma, documents, agriculture, infrastructure, automotive, tobacco, lifestyle and apparel. Among these, the FMCG sector is most vulnerable as counterfeit incidents in the sector increased by 63 per cent between 2018 to 2019.

Nakul Pasricha, President, ASPA, said: "The trends call for immediate action. Counterfeit products across various sectors in India are causing over Rs 1 trillion (1 lakh crore) loss every year to our economy and the progress to date is simply not good enough to fight this crime of the 21st century."

He added that there is a need for an ongoing focus on building and nurturing authentication eco-systems in the country.

--IANS

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