The top five sectors which have been most affected by counterfeiting are alcohol, tobacco, FMCG packaged goods, currency and pharmaceuticals. They together constitute more than 84 per cent of the total counterfeiting incidents reported. Within the last month, there have been a number of cases reported of fake COVID-19 medication.
Read more about Spike in counterfeiting of PPE kits, sanitisers during Covid-19: Report on Business Standard. The COVID-19 lockdown witnessed a sharp spike in counterfeiting incidents in pharmaceutical products, especially PPE kits and sanitisers, as per a report by industry body ASPA.Counterfeiting incidents in India have risen "rapidly in the last few
Can Covid-19 vaccines get adulterated?
Mon, May 17 2021 20:12 IST |
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Tibetans in Austria, Switzerland contribute for Covid-19 vaccine (File Photo: Kuntal Chakrabarty/IANS) Image Source: IANS News
New Delhi, May 17 : India is known as the pharmacy of the world, but the country has also been battling the challenge of counterfeit drugs for long. While the list includes many life-saving drugs and currently fake Remdesivir and oxygen concentrators, a fake Covid-19 vaccine can dampen the efforts of governments and add to the already overwhelming healthcare system in India, says an expert.
The second wave of Coronavirus in India has had a greater impact on the country s healthcare system. People have been running helter-skelter to get medicines, oxygen cylinders, concentrators, masks, PPE kits and other essential life-saving things. The sudden surge in demand unfortunately boosted the trade of fake medicines and other essentials for Covid treatment.
The menace of contraband and counterfeit products As India charts its path towards economic revival and growth, the pillars of teaming, education, and enforcement could help prevent illicit trade from becoming an intractable menace.
Image: Illustration by Anirban Ghosh
Even as the Indian government does everything it can to help the economy recover from the impact of Covid-19, it is also battling another issue resulting in loss of revenue to help support public and social welfare programmes: contraband and counterfeit goods.
The growing menace of contraband and counterfeiting of goods
The 2019 “Invisible Enemy” report by the Federation of Indian Chambers of Commerce and Industry (FICCI), revealed that contraband and counterfeit goods caused losses of government revenue to the tune of ₹5,726 crore in the textiles industry, ₹5,509 crore in the readymade garments industry, ₹8,750 crore in the cigarettes industry, ₹18,425 crore in the capital goods industry, and