The threat posed by counterfeits, cheap pass-offs and smuggling are higher today than at any other point during the past twenty-five years. FICCI estimates that businesses in pharmaceuticals, FMCG, packaged foods, mobile phones, alcoholic beverages and bottled water have lost over one lac crore rupees of sales in 2015 in India alone.
A staggering figure that is growing at over 20% per annum. This threat affects everyone in our society: businesses, consumers, and the government.
Many businesses underestimate the risks from counterfeits and pass-offs, they argue that they don’t suffer a direct cash loss. True, counterfeiting causes no cash loss. However, each fake, each cheap pass-off is one less product sold by the brand owner, meaning lower revenue and lower profit.