Thought Arbitrage Research Institute proudly announces the completion of a pioneering study in India, which calculates and evaluates the socio economic impact of counterfeiting, smuggling and tax evasion across key sectors in India.
The study conducted on behalf of FICCI-CASCADE extensively relied on government published sources of information to estimate the sales loss to industry sectors such as automobiles, alcohol, computer hardware, fast moving consumer goods, packaged food, tobacco, mobiles and pharmaceutical. The loss to these industries is more than Rs 1,00,000 crores.
The study’s findings on loss to exchequer of Rs 26,190 crores, hazards to consumer safety, criminal nexus of the counterfeiters and the risk they pose to our nation and the society at large has been extensively covered by the media.
We hope that our milestone study will help the government, policy makers and industry to initiate remedial, enforcement and policy responses so as to curb this menace.
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