'Currency, liquor, FMCG most affected by counterfeiting'


New Delhi, Nov 8 (IANS): Currency, liquor and FMCG are among the most affected sectors by counterfeiting activities and the most number of counterfeit cases are reported in these sectors, according to a survey by Authentication Solutions Providers' Association (ASPA).

The top 10 sectors with highest number of counterfeit cases for 2018 and 2019 are currency followed by liquor, FMCG (food and beverages), pharmaceuticals, FMCG (personal care), documents, tobacco, automotive, construction material and chemical.

In terms of States, Uttar Pradesh is most affected by counterfeit incidents followed by Bihar, Rajasthan, Jharkhand, Madhya Pradesh, Delhi, West Bengal, Maharashtra, Punjab and Gujarat.

"The menace of counterfeiting causes revenue loss of approximately Rs 1 lakh crore ($14.7 billion) annually to the Indian economy and curbing it could give a huge boost to economic resources of the country. Be it pharmaceuticals, food and beverage, liquor, automobile, electronic goods, almost every sector is witnessing the damage. Even currency is not untouched," a statement by ASPA said.

ASPA is a self-regulated non-profit organisation that represents the entire as physical and digital authentication solutions industry globally. The association has taken on the task of nurturing the anti-counterfeiting ecosystem by sensitising consumers, brands and policymakers towards the menace of counterfeiting and creating awareness around the solutions.

  

Leave a Comment

Title : 'Currency, liquor, FMCG most affected by counterfeiting'


 
 
 
 

 
You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image