The size of grey market in alcoholic beverages registered a maximum jump – up from 10.2% in 2012 to 16.7% in 2014. This meant a loss of Rs 14,140 crore to the industry and Rs 6,309 crore to the government in revenue in 2014. In 2012, the loss to the industry was estimated to be Rs 5,626 crore and to the government Rs 6,309 crore.
The study also finds that the growth of grey market has stymied investment in the industry and there is very little innovation. Multiplicity and high rates of taxes have neither curbed consumption nor improved revenue. In fact, high growth of the grey market suggests that such policies have proved counterproductive and needs to be revisited. For further details please view our report.…
Organizations lose 5% of their revenues to fraud each year with potential global fraud loss projected at more than $3.5 trillion!
Association of Certified Fraud Examiners 2012 Report to the Nations