Our study of FMCG-personal goods industry shows significant presence of illicit market which is also growing – from 25.9% in 2012 to 31.6% in 2014. This has adversely impacted innovation and investment, none of which is good for the businesses, government or consumers. The resultant loss to the industry was Rs 15,035 crore in 2014, which is a cause of serious concern.
Illicit markets also undermine employment and raise prices of products as companies increase security systems to counter organised criminal activities. Fake and spurious goods can have serious health and safety implications. A collaborative effort from all the stakeholders is needed to tackle the menace. For further details please view our report.…
For too long CSR in India had been left to non-directional, haphazard do-gooding; 'Governance' - the process through which decisions are taken - of CS
Ethics in business is extremely important; your reputation is all you have in life.
Sir Freddie Lake