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.…
Corruption afflicts all countries, undermining social progress and breeding inequality and injustice. When desperately needed development funds are stolen by corrupt individuals and institutions, poor and vulnerable people are robbed of education, healthcare and other essential services
UN Secretary General, Mr Ban Ki-Moon