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.”
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.
Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.
In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.
We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality Journalism
Please Email the Editor