FICCI CASCADE launches awareness campaign against trafficking
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FICCI’s Committee Against Smuggling and Counterfeiting (CASCADE), which harms the economy, on Saturday launched an awareness campaign against illegal trade.
New Delhi. FICCI’s Committee Against Smuggling and Counterfeiting (CASCADE), which harms the economy, on Saturday launched an awareness campaign against illegal trade. The campaign was organized to connect with people and create awareness about the harmful consequences of illegal trade, FICCI CASCADE said in a statement. Citing a report titled Illicit Markets: Threat to our National Interests, the statement said that between 2010 and 2020, tax losses due to smuggling and illegal trade increased by a whopping 163 per cent.
Its financial impact was Rs 58,521 crore across five sectors, including alcoholic beverages, mobile phones, FMCG – household and personal goods, FMCG-packaged food items and tobacco products, according to the statement. FICCI CASCADE Chairman Anil Rajput said, “Trafficking causes significant damage to industries and has a negative impact on job creation and economic growth. Illegal trade is also a twofold challenge for the government.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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