FICCI CASCADE constitutes Think Tank to mitigate challenges of illicit trade

Jul 25, 2018

 Global loss due to counterfeiting & piracy expected to reach US$ 1.87 trillion by 2022

 

NEW DELHI, 25 July 2018: FICCI-CASCADE, (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) has constituted a think tank which will advise, direct and provide necessary inputs in formulating a strong & effective future course of action to eliminate the menace of illicit trade. The think tank will guide and suggest inputs in mitigating the challenges arising out of illicit trade practices. The kick-off meeting of the Think Tank was held on 24^thJuly 2018, Tuesday.

 

Mr. Anil Rajput, Chairman, FICCI CASCADE said, "It is now evident that the problem of illicit trade is serious and needs to be dealt on war footing. This think tank will develop a road map to address the challenges and proactively work with the policy makers to devise a framework which will protect and promote legal Industry in the country."

 

It is estimated that the total economic and social costs globally due to counterfeiting and piracy world-wide stood between US$ 737 to US$ 898 billion in 2013 and this is expected to go up to US$ 1.54 to US$ 1.87 trillion by 2022, an increase of 108 per cent. Illicit trade is a major and growing problem worldwide, be it smuggling, counterfeiting or tax evasion. The market for contraband and smuggled goods is thriving in India and today, is also one of the biggest issues faced by the Indian industry and Government. 

 

Mr. Arun Chawla, Deputy Secretary General, FICCI said, "FICCI's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy [CASCADE] is a unique effort by an industry body in trying to control this tumorous threat through its initiatives and activities. Over the years, the message we are trying to convey is that such illicit activity should not be tolerated at any cause as it is extremely harmful for the economy, harmful not only for business, but for the government which loses huge taxes, and most importantly harmful for consumers as they end up getting non-secure, unhealthy, substandard products which comes with no guarantees. Under the able guidance of the think tank members, our goal should be to advocate policy reforms and to foster international cooperation aimed at the reduction and deterrence of illicit trade."

 

Given the emphasis on India's economic development and the much anticipated growth trajectory; technology, invention, and innovation play a key role in charting out India�s growth strategy. However, illegal trade practices will hinder this progression. India today has the potential to become a global manufacturing hub. However, the absence of an adequate enforcement mechanism to stop counterfeiting and smuggling, can act as a dampener in achieving this goal.

 

The Think tank comprises Mr. Ajay Shankar, Former Secretary, Department of Industrial Policy and Promotion (DIPP), GoI; Mr. Anil Sinha, Former Director, Central Bureau of Investigation; Mr.  Hem Kumar Pande, Former Secretary, Ministry of Consumer Affairs, Food and Public Distribution; Ms. Kameswari Subramanian, International Expert, Customs Law, Procedures & Trade Facilitation; Justice Manmohan Sarin, Former Lokayukta, NCT of Delhi, Chief Justice, High Court of Jammu & Kashmir, Judge, High Court of Delhi; Mr. Najib Shah, Former Chairman, Central Board of Indirect Taxes and Customs (CBDT);Mr. Narendra K Sabharwal, Chairman, FICCI-IP Committee & Former Deputy Director General, WIPO; Mr. Neeraj Kumar, Former Commissioner, Delhi Police;Mr. P. K Malhotra, Former Secretary, Ministry of Law and Justice; Mr. Sanjeev Tripathi, Former Chief, Research and Analysis Wing (RAW); Mr. Vikram Srivastava, Former Director General, Central Reserve Police Force (CRPF) and Mr. Anil Rajput, Chairman, FICCI CASCADE.