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Alert: Infiltration of fake products is increasing in the market, the market of fake goods is more than 2.5 lakh crores – Alert fake products market in India is more than 2 lakh crores from gold to mobile tutc

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Alert: Infiltration of fake products is increasing in the market, the market of fake goods is more than 2.5 lakh crores - Alert fake products market in India is more than 2 lakh crores from gold to mobile tutc

Infiltration of fake products in the country is continuously increasing. Recently, the government has taken strict steps to stop the smuggling of gold and mobiles. But till now no effective plan has been implemented to stop fake goods. In such a situation, it is expected from the government in this budget (Budget-2023) that it will take some suitable steps for this serious threat which is harming the Indian Economy.

The ‘fake’ market is worth 2.6 lakh crores
How big this threat is can be estimated from the report of Crisil and Authentication Solution Providers Association. According to them, 25 to 30 percent of all the products sold in the country are fake. In 2019-20, the market for counterfeit goods was Rs 2.6 lakh crore and it is increasing continuously. The biggest problem of counterfeit goods is in the clothing and FMCG sector. After this, there is a problem of counterfeit goods in Pharma, Automotive and Consumer Durables as well.

Fake clothes dominate the fake market!
If we talk about different sectors, then in terms of fake products with 31 percent, the clothing segment comes first. After this comes the number of FMCG with 28 percent and automotive with 25 percent. Where customers get cash products while making purchases. Apart from this, there are many such segments, where the problem of fake products looms large. These include pharmaceuticals with 20 per cent, consumer durables with 17 per cent and agrochemicals with 16 per cent counterfeit goods.

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Getting support due to lack of awareness
There is also a problem of awareness here. According to the report, at least 27 per cent of the customers are unaware that the products they are buying are actually fake. However, 31 percent people buy fake goods knowingly or after testing. The 12 cities included in this report include Delhi, Agra, Jalandhar, Mumbai, Ahmedabad, Jaipur, Indore, Kolkata, Patna, Chennai, Bengaluru and Hyderabad.

Counterfeit infiltration from cumin to edible oil
According to Crisil Market Intelligence and Analytics, counterfeit goods are not limited to luxury products only. From daily used cumin to cooking oil and from baby care items to medicines, the infiltration of counterfeit goods is increasing in every household kitchen.