Left Menu
Development News Edition

Public policy, strong enforcement needed to address counterfeiting, smuggling: Rajya Sabha MP

The parallel economy in counterfeiting and smuggling has to be addressed if India wants to achieve a USD 5 trillion economy by 2025 and aim to take it to USD 10 trillion by 2027, said Dr Amar Patnaik, Member of Parliament, Rajya Sabha.

ANI | New Delhi | Updated: 27-11-2020 13:55 IST | Created: 27-11-2020 13:55 IST
Public policy, strong enforcement needed to address counterfeiting, smuggling: Rajya Sabha MP
Representative Image . Image Credit: ANI

The parallel economy in counterfeiting and smuggling has to be addressed if India wants to achieve a USD 5 trillion economy by 2025 and aim to take it to USD 10 trillion by 2027, said Dr Amar Patnaik, Member of Parliament, Rajya Sabha. "Measures such as public policy and strong enforcement are needed to address the problem of counterfeiting and smuggling," said Patnaik while elaborating on India's economic resurgence on Thursday.

He was speaking at a webinar on 'Communication, Coordination and Collaboration- Strengthening the fight against counterfeiting and smuggling' organised by FICCI's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE). Anil Rajput, Chair, FICCI CASCADE said despite several measures taken by all stakeholders to contain smuggling and counterfeiting, further steps are required, both in the form of policy intervention and awareness generation to address this socio-economic scourge.

"Establishing a coordinated national strategy to share intelligence, best practices and cooperation on cross-border investigations is the need of the hour," he added. While highlighting the need for all the stakeholders to work in sync to combat this menace, Deepankar Aron, Commissioner, GST (Appeals), Dehradun, Uttarakhand said, "Right data sharing with the right people at the right time is important in order to address the issue of smuggling and counterfeiting."

Further, on the enforcement scenario, Aron said, "In just one-year, fraudulent imports exports worth Rs 2,000 crore were detected leading to 200 arrests on white-collar crimes by the DRI, Eastern region." The webinar brought together policymakers, think tanks, enforcement agencies, industry and consumer organisations to deliberate on industry issues in tackling the flow of counterfeit, smuggled and spurious products not only in the offline markets but on the online market space too. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

China: A savior for emerging markets or a poison pill?

... ...

Future of Urban Planning: Artificial Intelligence guiding the way

Advances in emerging technologies like Artificial Intelligence and Machine Learning can help us understand our cities better and derive useful insights from real-time data collected through automated models....

Videos

Latest News

U.S. bankruptcy judge okays Weinstein Co plan paying $17 mln for sex abuse claims

A U.S. Bankruptcy Court judge on Monday approved The Weinstein Cos liquidation plan, which sets aside 17 million for women who accused co-founder Harvey Weinstein of sexual misconduct.Judge Mary Walrath in Wilmington, Delaware announced her...

Soccer-Europe's top clubs face 2 bln euros revenue hit from pandemic - Deloitte

Europes elite soccer clubs are expected to miss out on over 2 billion euros 2.43 billion in revenue by the end of the 2020-21 season due to the impact of the COVID-19 pandemic, according to Deloittes Football Money League. The report publis...

'Together we are stronger' - Germany bets on better U.S. ties under Biden

German Chancellor Angela Merkel and U.S. President Joe Biden agreed in a phone call on Monday that the COVID-19 pandemic and other global challenges could only be tackled through closer cooperation, a government spokesman in Berlin said on ...

Crafting COVID-19 recovery plans to recycle more could slash emissions

By Michael Taylor Jan 26 Thomson Reuters Foundation - COVID-19 relief and recovery plans aimed at recycling and reusing more of the billions of tonnes of materials consumed each year could slash planet-heating emissions and limit the impact...

Give Feedback