The size of illegal market in the automobile industry of India is estimated to be a whopping 33.7%, causing a loss of Rs 10,501 crore to the industry in 2014. Given the fact that counterfeit motor parts also causes accidents and accidental deaths, this is a serious matter that requires immediate government intervention. The size of such market was estimated to be 29.6% in 2012.
This is one of a series of TARI-FICCI-CASCADE studies on the threat of illegal or grey markets in India. TARI pioneered the study of such markets in 2012 by developing its own methodology which is now recognised and approved internationally. This and other such studies also assess the impact of grey markets on investment, innovation, taxation and organised crime. For further details please view our report.…
Corruption need not be the grease that oils the wheels of progress
Dr. Manmohan Singh, Former Prime Minister of India