‘Illicit trade major threat to India’s economic goals’

new delhi: Senior police and industry leaders on Wednesday stressed the urgent need for stronger enforcement and cross-border cooperation to tackle counterfeiting and smuggling, calling these illicit activities a major threat to India’s economic aspirations.

Speaking at FICCI CASCADE’s programme “Enforcement Against Illicit Economies: Strengthening the Role of Police in Preventing Transnational Crime”, Karan Goel, IPS, DCP/West, Haryana Police Service, warned that the menace undermines the country’s economic ambitions.

Highlighting the broader risks, he said: “These illicit activities deprive legitimate businesses of their fair share and endanger the very fabric of our society. The harm caused goes far beyond financial setbacks, posing serious risks to public safety and consumer trust. This makes it imperative for law enforcement agencies to be adequately equipped and well-informed, ensuring they can effectively protect citizens from the dangers inherent in these unlawful practices.”

Echoing these concerns, Deep Chand, Advisor, FICCI CASCADE, noted: “Counterfeiting and smuggling have several detrimental effects. They result in significant losses for legitimate businesses, erode consumer trust, and deprive the nation of crucial revenue, thereby hindering overall growth and development. Moreover, the associated health risks of counterfeit products are a grave concern, posing a direct threat to the well-being of the public.”

SHIMIZU Hiroko, Chairperson, JETRO, underlined the global implications. “Counterfeit and smuggled goods are not merely economic offences; they endanger consumers, weaken fair competition, and undermine innovation. To counter this menace, we must foster stronger cross-border cooperation and build robust partnerships between governments, enforcement agencies, and industry,” she said.

Ashish Paul, Vice President–Corporate Affairs, ITC Ltd., said: “...Generating awareness among young enforcement officials along with the discerning consumers is the need of the hour. It will strengthen enforcement mechanisms, promote informed decision-making and meaningfully contribute towards the Prime Minister’s vision of an Atmanirbhar Bharat by 2047.”