The number of counterfeit cases have increased by nearly 15 per cent in the January-October period this year, according to the estimates by the Authentication Solutions Providers’ Association (ASPA).
ASPA is a self-regulated, non-profit organisation of authentication solution providers. It shared findings of a report at the Authentication Forum in Delhi on Thursday,
The top ten sectors with the highest number of counterfeit cases in 2018 and 2019 were currency, liquor, food and beverages, pharmaceuticals, personal care, documents, tobacco, automotive, construction material and chemicals, it added.
In terms of states, it said that Uttar Pradesh (UP) was found to be most impacted by counterfeit incidents followed by Bihar, Rajasthan, Jharkhand, Madhya Pradesh, Delhi, West Bengal, Maharashtra, Punjab and Gujarat.
About 25 per cent cases of counterfeit currency were reported from West Bengal and Uttar Pradesh. While over 65 per cent of liquor counterfeit cases were from UP and Jharkhand, over 50 per cent of food adulteration cases were found in UP, Rajasthan and Punjab, according to ASPA's estimates.
In a statement, Nakul Pasricha, President, ASPA said, “Representing 3.3 per cent of world trade, counterfeiting is a critical risk for all companies, no matter where they are, and what products they made. Issue of counterfeiting and sub-standard products has been the cause of many major tragedies claiming many human lives both worldwide and in India.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.