Consumerism: The non-deceptive market is the most critical aspect fueling widespread counterfeiting and Illicit trade across the country and plaguing almost all industries, the think-tank said.
Leading India’s fight against counterfeiting for many decades, The Authentication Solution Providers' Association (ASPA) has taken on the ambitious challenge of targeting zero counterfeiting in India. ASPA in association with Messe Frankfurt India hosted the fifth edition of the flagship Traceability and Authentication Forum on 6 and 7 July in Delhi to encourage and nurture traceability, authentication and anti-counterfeiting ecosystem in the country.
India has made it compulsory for cough syrup manufacturers to provide samples of their products for testing before export. But experts say this doesn't go far enough.
Leading India’s fight against counterfeiting, the Authentication Solution Providers’ Association (ASPA) has committed itself to the ambitious target of zero counterfeiting. With this vision, the association is aggressively advancing on a strategic path towards strengthening the front against counterfeiting.
Counterfeiting activities are impacting the sustainable growth of the major industry in India, including pharmaceuticals, FMCG, automotives, apparel, consumer durables/electronics, and Agri products, according to a new report released by ASPA & CRISIL.
Counterfeiting is most prevalent in apparel (31%), FMCG (28%), and automotives (25%) are the top segments where consumers came across a counterfeit product, followed by Pharmaceuticals (20%), consumer durables (17%), and agrochemicals (16%), the report said
Dozens of children in Gambia lost their lives after reportedly consuming cough syrups imported from India. But the tragedy is only the latest issue faced by India's pharmaceutical companies.
Instances of patients needing treatment after consuming spurious or substandard drugs are rare in India, says Dr Rajeev Jayadevan, but the problem is larger than government surveys suggest, says Nakul Pasricha, CEO of Pharma Secure. Both say the recent tragedy in Gambia means government regulation of India’s pharmaceutical industry should be tightened further