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ILLICIT MARKET GROWTH
BAT to cut 9,000 jobs globally as the world lights fewer cigarettesBritish American Tobacco is slashing approximately 9,000 jobs globally as part of a major restructuring. This significant workforce reducti...- Myanmar overtakes Afghanistan as top illicit opium source; NCB flags India riskMyanmar has become the world's top source of illicit opium, surpassing Afghanistan due to its ongoing civil war and economic crisis. This s...
- FRAI urges govt to intensify crackdown on counterfeit products, illicit tradeRetailers are urging the government to intensify efforts against illegal trade and fake products, citing risks to consumer safety and the l...
- No slowdown yet, but inflation and El Niño are risks: ITC's Sanjiv PuriITC Chairman Sanjiv Puri revealed plans for a Rs 20,000 crore investment over the medium term, including hotel expansion. He highlighted st...
- ITC bulking up with products rich in protein and fibre: Sanjiv Puri“India is also a protein-deficient market. We already have offerings such as high-protein atta, soya chunks and protein shakes, and we will...
- Philip Morris India calls for stronger enforcement and collaboration to disrupt illicit tobacco ecosystemAs per the Tobacco Institute of India (TII), in India, illicit cigarettes represent nearly one-fourth of the domestic market, with estimate...
- Consumer staples sector to face growth normalization in 2nd half of 2026, updates on pricing power and channel efficiency eyedConsumer staples growth momentum is likely to moderate in the second half of FY27 as GST-related benefits phase out and high base effects s...
- ITC shares fall 3% to fresh 52-week low; Motilal Oswal sees more pain aheadITC shares fell to a fresh 52-week low on Wednesday as investors reacted to steep tax hikes on cigarettes under the new GST 2.0 regime. Bro...
- Cigarette business weakness drags ITC margins in March quarterITC's cigarette business saw lower profits in the March quarter due to increased taxes. While other areas like FMCG improved, they could no...
- Ketan Parekh Case: Sebi sends show cause notice to 6 Capital Group FPIsIndia's market regulator Sebi has issued a show cause notice to six Capital Group FPIs for alleged lapses in trade confidentiality. Two tra...
- US to loosen marijuana rules in major shift for $47 billion industryThe United States Department of Justice is easing rules on certain marijuana items. The drug will be reclassified as less dangerous. This s...
- Tether says it has frozen $4.2 billion of its stablecoin over crime linksTether, a major stablecoin issuer, has frozen approximately $4.2 billion of its crypto tokens. These tokens are linked to illicit activitie...
- Tax hike raises risk of smuggling of tobacco products and revenue loss for govt: ExpertsExperts warn that a significant tax hike on cigarettes, effective February 1, could fuel illicit trade and lead to substantial tax revenue ...
- India sees improvement in Global Terrorism Index; scaling of efforts can save USD 159 bn to money laundering"Illicit trade undermines national security, risks legitimate manufacturing, leaks government revenue, jeopardises public health and safety...
- Illicit trade on rise in India, says Ficci-KPMG reportThe seizure value from misuse of end use was at Rs 770 crore and that from other means was at Rs 2,780 crore, seeing a rise of 191 per cent...
- Ficci urges government to clamp down on rising contraband tradeThe report by Ficci body CASCADE pegged the loss in seven industry sectors at Rs 1,05,381 crore, increasing 44.4 per cent between 2011-12 a...
- 22% shrinkage in legal cigarette sales in IndiaTobacco farmers are very disturbed because of declining off-take from domestic manufacturers.
- Inadequate enforcement and lack of consumer awareness boosting counterfeiting in India: FICCIInadequate enforcement and lack of consumer awareness is boosting counterfeiting in India, a new report by industry body FICCI says.
- Illicit trade up in 2014, Rs 39,239 crore loss to exchequer: FICCI reportAmongst the various sectors, the maximum revenue loss was from counterfeiting and illicit trade is tobacco products 23% and Rs 9,139 crore.
- Contraband cigarette market in India estimated at Rs 1,700 cr'Extremely high' excise duty on cigarettes in India has increased the incentives for contraband trade in the country, estimated at Rs 1,700...
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