FMCG sector: Govt loss at Rs 16,546 cr due to counterfeit brands

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According to a Ficci study, the overall loss to the government due to counterfeit brands in 2012 stands at Rs 16,546 cr in the Indian FMCG sector alone. According to a Ficci study, the overall loss to the government due to counterfeit brands in 2012 stands at Rs 16,546 cr in the Indian FMCG sector alone.
SummaryFMCGs like ITC and Coca-Cola, along with Ficci, come together to take on fake brands.

, new designs, aggressive distributions to fight this issue. We deploy more people on streets to identify these counterfeit brands and take legal action against these culprits,” Jyothy Laboratories joint managing director Ullas Kamath said.

Since its launch in 2011, Ficci CASCADE has undertaken many activities which include, consumer education and awareness campaign on the risks posed by counterfeit and pirated goods.’’ A Pan Indian series of consultation launched by Ficci CASCADE has further been successful in initiating a stakeholder debate in ten states of India so far on this issue and various recommendations have been draw,” said Naina Lal Kidwai, president of Ficci.

According to Kidwai, Ficci CASCADE is co-opting the youth of the country through youth festivals to build a movement against smuggling and counterfeiting to address the mindset and emphasis on the seriousness of the hazards of counterfeit goods in the minds of an average consumer.

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