News Snapshot:
New Delhi: Trade of illicit products in five key industries was valued at Rs 2.6 lakh crore for the financial year 2019-20, according to a report released by the Federation of Indian Chamber of Commerce and Industries (FICCI) on Thursday. Overall, counterfeit goods cost a tax loss of Rs 58,521 crore to the exchequer. The report, ‘Illicit Markets: A Threat for National Interests’, took up five key industries — mobile phones, alcoholic beverages, tobacco products, fast and moving consumer goods (FMCG) household and personal goods, and FMCG packaged foods — for the country-wide survey. The research was conducted by Thought...
