FICCI'S CASCADE CONFERENCE ON 'COMBATING ILLICIT TRADE: INSIGHTS,CHALLENGES & SOLUTIONS.

 Ms.Gunjan Krishna,Commissioner for Industrial Development & Director for Industries & Commerce, Govt. of Karnataka whileaddressing the captioned Conference Said,' Smuggling & counterfeiting not only finance terror groups but also undermine global security,posing severe threats to safety & economic growth.The proliferation of counterfiet products,including pharmaceuticals and consumer goods endangers public health & safety,with the WHO reporting that 1 in 10 medicines in low & middle income countries is substandard.In response,Karnataka is taking decisive action by supporting 43 GI tagged products and working closely with law enforcement to combat illicit trade".

Ms.Prabha Rao,Executive Director,South Asian Institute for strategic Affairs & Scholar ,Institute for Defence Studies & Analysis said," To combat  illicit practices,it is crucial to engage grass roots & communities & local leaders,raising awareness about their severe economic,health and societal impacts".

Mr.P.C.Jha,Advisor,FICCI CASCADE,&  Former Chairman,Central Board of Indirect Taxes &  Customs said," It needs to be highlighted that tackling & mitigating counterfeiting & smuggling is essential to achieving $5 Trillion Indian economy as illicit trade & illicit activities pose significant threats to our economic stability & development". Mr.Kotraswamy,M.Commissioner,Bengaluru North CGST  Commissionerate said that there should be collaboration between central agencies,state enforcement bodies,and civil society to successfully tackle this challenge & to safeguard our economy & society.

According to another FICCI CASCADE report titled "Illicit Markets": A threat to our national interests,which examined the impact of illicit trade in five key industries in India Viz: Mobile Phones,FMCG-Houehold & personal goodsFMCG-Packaged Foods,Tobacco Products and alcoholic beverages,the size of illicit market in the above mentioned industries was Rs.2,60,094 crore for the year 2019-20 with the FMCG industry -household & personal goods & packaged goods -together accounting for 3/4th of the total illicit value of goods in five key industries.