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New Delhi May 10 Fabrics manufacturers especially in suiting and shirting range are losing over Rs 1,000 crore annually on account of counterfeit fabrics that are being sold under the popular brand names, according to industry chamber Assocham.

Smuggled cigarettes are estimated at Rs 1,700 crore in value and account for 5-7 per cent of the market. The revenue loss estimated on account of this stands at Rs 1,500-Rs 2,000 crore in the form of unpaid duties and foreign exchange outflow, according the chamber study.

The study further says counterfeit automotive parts worth around Rs 200 crore are sold annually. These counterfeit parts put consumer's safety at risk.

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