Smuggling and counterfeiting are undermining the economic stability, social security, and integrity of the country

New Delhi [India], September 27 (ANI): Justice Sanjay Karol, Judge of the Supreme Court of India, underscored the grave impact of smuggling and counterfeiting on India's economy and society during the valedictory address at the 10th edition of the Movement Against Smuggling and Counterfeit Trade Activities Destroying Economy (MASCRADE), organised by FICCI-CASCADE.
The two-day conference concluded with calls for stronger collaboration and technological innovation to tackle the growing menace of illicit trade.
Justice Karol highlighted how smuggling and counterfeiting undermine the country's economic stability, social security, and integrity.
"Smuggling and counterfeiting continue to jeopardise economic stability, social security and integrity of the nation. Smuggling and counterfeiting often lurk undetected amidst a host of other economic and social problems but continue to erode substantial portions of legitimate businesses, resulting in substantial economic and social damages," he stated.
Justice Karol emphasised the pivotal role of technology in combating these illicit activities and called for enhanced inter-state cooperation.
"Utilising QR codes will help safeguard consumers and address the issues of smuggling and counterfeiting. Social media intermediaries also play a crucial role in this fight. We must strengthen our inter-state collaborations, and I am pleased to note that over the past ten years, these collaborations have been solidified at the international level," he added.
Justice Navin Chawla, Judge, Delhi High Court, pointed out the vast economic losses stemming from these activities.
Chawla said, "Smuggling and counterfeiting affect the day-to-day lives of citizens in various ways. These activities constitute a USD 2 trillion shadow economy, resulting in significant economic losses for the nation."
He added, "This menace needs to be addressed uniformly by the legislature, judiciary, and executive. I assure you that all three branches are doing everything possible to combat this issue."
He further stressed the need for consumer awareness, warning that purchasing illicit goods may seem like a short-term gain but results in long-term losses for individuals and the nation.
Dr Anju Rathi Rana, Additional Secretary, Ministry of Law and Justice, echoed these concerns, stating that illicit trade--including drug trafficking, smuggling, counterfeiting, and human trafficking--accounts for 5 per cent of global GDP, a staggering statistic reported by the UN.
She said, "Illicit trade encompasses a wide range of activities like drug trafficking, smuggling, counterfeiting and human trafficking.
According to UN, these activities account for 5 per cent of global GDP, which is an alarming figure and calls for immediate action.
"In order to combat illicit trade, India has to adopt a comprehensive set of strategies. These strategies should primarily focus on fostering public awareness and implementing joint task forces for coordinated action against perpetrators of illicit trade," she added. (ANI)