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SMUGGLING OF COUNTERFEIT PRODUCTS
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...- Counterfeit goods, expiry tampering a 'very huge problem', says Consumer Affairs SecretaryCounterfeit products and altered expiry dates present a significant challenge. Consumer Affairs Secretary Nidhi Khare highlighted the ongoi...
- Ficci pegs illicit trade at near Rs 8 lakh crore in 5 key sectorsIndustry body Ficci has urged for strict punishment and enhanced surveillance to combat illicit trade, which is estimated at Rs 7.97 lakh c...
- FICCI CASCADE organises awareness rally about illicit trade and impact on economyThe FICCI Committee Against Smuggling and Counterfeiting Destroying the Economy (CASCADE) organised an awareness rally on Saturday to comba...
- US steps up watch against counterfeit goods; Indians leave your fake Adidas, Gucci back homeThe US Customs and Border Protection (CBP) has recently intensified efforts to combat the smuggling of counterfeit luxury products, leading...
- Budget Expectations: Retailers seek tax cuts to fight cheap smuggled items"The high taxes are creating a huge demand for smuggled and counterfeit products across the country and are forcing millions of small and i...
- Merely smuggling gold not terrorist act under UAPA, says Delhi High CourtThe bench, also comprising Justice Mini Pushkarna, further noted that the possession, use, production, transfer of counterfeit currency or ...
- ISWAI welcomes excise reforms announced in Assam BudgetNita Kapoor, Chief Executive Officer, ISWAI, said, “We welcome and thank the Assam government for their progressive and positive steps that...
- Corporate tax reduction to boost growth, investment: Anurag Singh ThakurOn corporate tax reduction, Thakur said new investment will help create lot of job opportunities in the country.
- Illicit products adversely affecting Indian industry: ReportAs per FICCI CASCADE, high tariff rates, brand consciousness, lack of awareness, cheaper alternatives and demand supply gap are among the m...
- Cigarette, tobacco smuggling incidents jump 136% in 2yrs: ReportMaximum revenue loss to the exchequer came from illicit trade of tobacco products, mobile phones, alcoholic beverages, it said.
- 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...
- Online marketplace emerging as a hub for smuggled and counterfeit products: Grant ThorntonE-commerce business might be a hot sector among investors, but the online market place might be emerging as a hub for counterfeiting and sm...
- Online marketplaces preferred hub for counterfeiting, smuggling: ReportThe report was unveiled on Friday at a FICCI CASCADE International Conference on Illicit trade – Threat to national security & economy.
- 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.
- Revenue loss from smuggled and counterfeit products is more than Rs 1 lakh crore: FICCIIndia has lost annual tax of more than Rs 26,000 crore in 2012 due to counterfeiting, smuggling and tax evasion.
- Government loses Rs 26K crore in taxes to smuggling, counterfeiting: FICCISmuggling and counterfeiting is estimated to cost the government a whopping Rs 26,190 crore in tax losses annually, a study conducted by in...
- FDI in retail could check counterfeit merchandise: ExpertsUshering in FDI in multi-brand retail could ensure supply of genuine goods by eliminating the intermediaries involved in production and sal...
- Contraband cigarettes market estimated at Rs 1,900 crore this yearHigh excise duty on cigarettes in India has resulted in the growth of contraband trade of the product with the total market estimated to re...
- Cigarette smuggling to hit tobacco farmers hard: ASSOCHAMContraband cigarettes, estimated to be at Rs 1,700 crore, are posing a threat to the livelihood of five million tobacco farmers in the coun...
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