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.
There are many positive ways for business to make a difference in the lives of the poor - not through philanthropy but though initiatives that, over time, will help build new markets.
Kofi Annan: World Economic Forum