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Last updated: 23 Dec, 2021  

FICCI Logo New THMB 'Counterfeiting impacting socio-economic prosperity'

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SME Times News Bureau | 23 Dec, 2021
Dibya Shankar Mishra, Minister for Industries, MSME, Energy and Home, Govt of Odisha recently said that the menace of counterfeit and smuggled goods have penetrated deep into our society and is impacting the socio-economic prosperity of the country, which needs to be addressed immediately.

Addressing a webinar organized by FICCI's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE), Mishra said, "Strict enforcement plays a very important role in curbing the menace of illicit trade. I am proud to share that Odisha's enforcement agencies have been vigilant in fighting these illegal activities."

D P Dash, Former Pr. Director-General, DRI, Former Chairman, Enforcement Committee, World Customs Organisation (WCO) and Think Tank Member, FICCI CASCADE said, "inculcating moral values amongst children to buy genuine goods with bills on payment of taxes is an intergenerational investment in the fight against illicit trade."

He further added that penal provisions under central and state laws should be invoked to make a real impact in the fight against illicit trade.

Mr. Anil Rajput, Chairman, FICCI CASCADE in his welcome address said, "illicit products have infiltrated everyday avenues of commerce, making their way into supply chains and consumers' homes, thereby threatening manufacturers' competitiveness, undermining consumer confidence and posing a threat to individuals health and safety". He added that, "I must also compliment the Odisha government and the enforcement agencies for relentlessly pursuing the perpetrators of illicit trade. Despite the mammoth challenge posed by COVID 19 pandemic, their hands-on approach and alertness have been highlighted by seizures of large number of fake and smuggled medicines, currency, consumer goods, food products, cigarettes and much more".

"Counterfeiting and smuggling causes an economic loss to the nation which can be addressed at the grassroot level by educating the school children and MSMEs on the impact of illicit trade," said Ms Monica Nayyar Patnaik, Chairperson, FICCI Odisha State Council & MD, Sambad Group.

The problem of illicit trade has only compounded in the current situation, where criminals have used the pandemic as an opportunity to cause significant damage to the Indian economy, health, and safety of the consumers. 

The webinar, with focus on the state of Odisha, was organized to deliberate on the efforts that the industry & government can take in tackling the flow of illicit products during the current crisis.

The speakers reiterated that consumer safety and safeguarding legitimate businesses while promoting indigenous production will also play a significant role in the country's post-pandemic economic recovery.

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