Prevention of smuggling can increase employment by up to 16.36L: Ficci repost
CHENNAI: Justice S Tamilvanan, President, Tamil Nadu State Consumer Disputes Redressal Commission, on Wednesday said that as per the Consumer Protection Act, 1986 consumer rights should be protected. Smuggling and counterfeiting is affecting not only the revenue of the government but is also adversely impacting commerce and industry and the health and safety of the people.
Speaking at the seminar on 'Containing Counterfeiting and Smuggling- A Step Towards Prosperous Nation Building' organized by FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy), Dr Tamilvanan said, "This national problem can be reduced through proper laws and stringent actions, which in turn will lead to a prosperous nation building. Effective enforcement, special courts and tribunals, proper development and awareness are the pillars to curb this menace."
FICCI CASCADE's recent study titled- 'Invisible Enemy: Impact of Smuggling on Indian Economy and Employment' quantitatively estimates both revenue and employment opportunity lost due to smuggling in five specific industries. According to the report the total direct employment opportunity lost in Textiles, Cigarettes, Readymade Garments, Capital Goods and Consumer Electronics is about 5.01 lakh in 2017-18. 3.55 lakh employment opportunity lost is in readymade garments and tobacco products, being largely labour-intensive industries. While, the total employment opportunity lost in the economy is about 16.36 lakh in 2017-18 due to backward linkage and multiplier effects of these five industries. The Indian economy loses Rs 1,17,253 crore due to smuggling in these five sectors.