The Authentication Solutions Providers’ Association (ASPA), a self-regulated industry body of Anti-Counterfeiting and Traceability Solutions providers, unveiled the first edition of its report 'The State of Counterfeiting In India Report 2020'. The report highlights the trends of counterfeiting incidents reported in India.
According to the report, counterfeiting incidents have risen steadily in the last few years and in 2019 these have increased by 24% as compared to 2018. UP, Bihar, Rajasthan, Madhya Pradesh, and West Bengal are the top five States with highest counterfeit incidents reported in the last two years.
Data reflects that Madhya Pradesh is one of the top states menaced by counterfeiting with majority cases being reported in FMCG and Currency. Incidentally, Currency, Alcohol & FMCG continue to be the top three sectors with the highest counterfeit incidents in the last two years in India. Amongst these three, FMCG sectors noticed the highest increase (63%) in counterfeit incidents in 2019 from 2018.
Counterfeiting is a universal issue that no country in the world can afford to overlook. Globally, it now stands at 3.3% of global trade (according to OECD report) and is impacting the social and economic development of countries.
Even in the Covid-19 crisis, we are observing that the criminals are taking advantage of the high market demand for personal protection and hygiene products and providing fake and sub-standard products which are a direct threat to our paramedical professionals, security volunteers, and society at large.