‘Counterfeit products’ proliferation endangers public health, safety’
BENGALURU: Gunjan Krishna, Commissioner for Industrial Development & Director for Industries and Commerce, Govt of Karnataka on Tuesday while addressing FICCI CASCADE’s conference on Combating Illicit Trade: Insights, Challenges, and Solutions said, “Smuggling and counterfeiting not only finance terror groups but also undermine global security, posing severe threats to safety and economic growth.”
“The proliferation of counterfeit products, including pharmaceuticals and consumer goods, endangers public health and safety, with the WHO reporting that 1 in 10 medicines in low- and middle-income countries is substandard. In response, Karnataka is taking decisive action by supporting 43 GI-tagged products and working closely with law enforcement to combat illicit trade. Our commitment to preserving traditional crafts and ensuring access to genuine, quality goods is crucial for safeguarding our economy, health, and security,” she added.
Prabha Rao, Executive Director, South Asian Institute for Strategic Affairs and Scholar, Institute for Defence Studies and Analyses said, “Counterfeiting and smuggling undermine legitimate businesses, government revenues, heritage, and the livelihoods of artisans. To combat these illicit practices, it is crucial to engage grassroots communities and local leaders, raising awareness about their severe economic, health, and societal impacts.”
P C Jha, Advisor, FICCI CASCADE and Former Chairman, Central Board of Indirect Taxes and Customs (CBIC), said, “In recent years, we have made tremendous gains in advancing our formal economy, moving steadily towards our goal of becoming a developed nation. However, amidst these advancements, one critical challenge remains largely overlooked: illicit trade. Illicit activities, such as counterfeiting and smuggling, pose significant threats to our economic stability and development. It needs to be highlighted that tackling and mitigating counterfeiting and smuggling is essential to achieving a $5 trillion Indian economy.”