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New Delhi, June 30 To curtail the sale of counterfeit products, industry chamber Assocham has urged setting up of Economic Offence Courts across the country to pronounce punishment to offenders selling fake products.

The industry is suffering annual losses of Rs 30,000 crore with the Government losing tax accruals of over Rs 10,000 crore due to sale of such products.

The chamber has also called for separate classification on economic offences in Criminal Procedure Code along with a new chapter to handle economic offences to deal with counterfeit, spurious and contraband products.

It has demanded that Indian Panel Code should be amended making it mandatory for police to submit the report of the raids conducted within a month.

More Stories on : Piracy | Industry Associations | Courts/Legal Issues

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