You are here: Home » Current Affairs » News » National
Business Standard

UP urged to check counterfeiting over e-commerce

The state e-commerce market is estimated at Rs 10,000 crore

Topics
E-commerce

Virendra Singh Rawat  |  Lucknow 

Facebook, Twitter, Google to battle online extremism

Against the backdrop of the domestic market growing exponentially with more and more people shopping online through smartphones, the perils of counterfeits have also multiplied in the same proportion.

Uttar Pradesh is one of the fastest growing markets in North India and is estimated at Rs 10,000 crore annually. It is projected to touch Rs 40,000 crore by 2020.

“However, consumers have no way to verify the genuineness of products bought through sites. The lack of awareness is making gullible people, unknowingly buying fakes at the cost of original products,” Authentication Solution Providers’ Association (ASPA) president UK Gupta told the media here this evening.

He further said buying fake medicines or baby food could result in serious health issues or even loss of life.

ASPA has urged the UP government for mandating use of authentication marks, such as holograms in products, before they hit the shelves or are sold online, to counter the menace of counterfeits and fakes.

The Association has also launched its industry and consumer centric ‘Make Sure India’ campaign to educate brand owners over the benefits of authentication solutions to curb counterfeiting. This would ensure sale of genuine products and preserve the reputation of brands.

ASPA claims its member companies protected over 10,000 brands globally.

According to industry body Ficci-Cascade, the central government had incurred a loss of Rs 26,190 crore during 2011-12 due to counterfeiting. This loss increased to Rs 39,239 crore in 2013-14, a rise of almost 50% in two years.

Meanwhile, the Association has planned to hold ‘brand awareness seminars’ in major industrial hubs of UP, including Lucknow, Kanpur, Allahabad, Varanasi, Agra, etc.

ASPA vice-president Nakul Pasricha said global trade in counterfeits was estimated at $461 billion in 2013, according to a report of the Organisation for Economic Co-operation and Development (OECD).

ASPA works closely with global authorities such as International Hologram Manufacturers Association (IHMA), Counterfeit Intelligence Bureau (CIB) and Interpol.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, May 24 2016. 17:34 IST
RECOMMENDED FOR YOU
.