Spike in cigarette smuggling during COVID-19 lockdown: FICCI CASCADE

By: |
June 15, 2020 2:26 PM

"The trend is nationwide, with seizures intercepted via road transport, in cargo and passenger luggage," FICCI CASCADE said in a statement.

FICCI, cigarette smuggling, COVID-19 lockdown, FICCI CASCADE, coronavirus crisis, latest news on cigarette smugglingCiting a recent study, FICCI CASCADE said while cigarette smuggling has now become highly lucrative activity, it has caused 3.34 lakh job losses and urged for more active vigilance.

Industry chamber FICCI’s arm on Monday said several cases of seizures by enforcement agencies of smuggled imported cigarettes reported in the last few months indicate a spike in cigarette smuggling during the coronavirus-induced lockdown.

FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy), said the seizure of foreign brand cigarettes worth Rs 11.88 crore from a container at Jawaharlal Nehru Port Trust (JNPT) in Navi Mumbai on June 12, by the Directorate of Revenue Intelligence (DRI) is one of the biggest seizures since lockdown.

“The trend is nationwide, with seizures intercepted via road transport, in cargo and passenger luggage,” FICCI CASCADE said in a statement.

Expressing concern FICCI CASCADE Chairman Anil Rajput said, “cigarette smuggling is a big racket across the globe and India continues to remain a hot bed for this menace. Even as the country is grappling with the coronavirus crisis, the seizures of such goods remain high.”

Citing a recent study, FICCI CASCADE said while cigarette smuggling has now become highly lucrative activity, it has caused 3.34 lakh job losses and urged for more active vigilance.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Reliance Retail Q1 pre-tax profit up 80% at Rs 1,941 crore
2RBI eases norms for loans given by banks to directors of other banks
3Reliance Jio profits jumps 44.9% to Rs 3,651 cr with net addition of 14.3 million subscribers during Apr-June