Stopping smuggling in 5 sectors can create 16.36 lakh jobs: FICCI

AgenciesUpdated: Thursday, September 26, 2019, 06:08 PM IST
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New Delhi: Prevention of smuggling in five key industries - textiles, readymade garments, cigarettes, machinery & parts, and consumer electronics - can increase employment in India by up to 16.36 lakh jobs, says a new Ficci study released here on Thursday.

This is because of backward linkage and multiplier effects of these industries, said the report, adding that total direct livelihood opportunities lost in these five industries was around 5 lakh in 2017-18.

Speaking at an event to release the report titled "Invisible Enemy - Impact of Smuggling on Indian Economy and Employment", Union Minister of State for Finance Anurag Singh Thakur said that Indians needs more awareness to understand the difference between fake and original goods. He urged people to leverage technology to stop this growing menace.

The government along with organisations like Ficci must fight against counterfeit, smuggling and piracy, he stressed at the sixth edition of the "MASCRADE 2019" event organised by Ficci CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy).

Stating that counterfeiting and smuggling directly impact health, economy, education and society, Union Minister of State for Home Nityanand Rai expressed the hope that the country will soon overcome this problem which triggers criminal activity.

Highlighting the several initiatives taken by the government to fight the menace of smuggling and counterfeiting, P. K Das, Chairman, Central Board of Indirect Taxes and Customs said that "CBIC India is equipped with all advance technological wherewithal to detect counterfeit and smuggled products."

"Money generated through illicit trade funds organised crime and nurtures illegal drugs trade," he said.

Trade in smuggling, contraband, counterfeit and pirated goods has risen steadily in the last few years and now stands at 3.3 per cent of global trade, said the report.

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