Beyond Borders - February 2019
19 February 2019
BDO in India presents Beyond Borders - The Customs & International Trade Journal. The monthly issue of the C&IT journal covers recent developments in the world of Customs & Foreign Trade in India, current global & technological trends and insights from eminent faces in the trade.
Cover story on the counterfeiting epidemic
Counterfeiting and piracy are highly pervasive across countries and sectors, representing a multi-billion-dollar industry globally that continues to grow. Understanding the scale of counterfeiting and piracy helps us to understand the size of the problem and the related social costs. International organisations such as the OECD estimate that trade in counterfeit and pirated products accounted for as much as 2.5% of the value of international trade, or $461 billion, in 2013. Notably, this figure could have spiralled to $800 billion by the end of 2018. India’s share in cross-border counterfeit trade is estimated to be around 5 percent. Going by these numbers, India could be currently witnessing an annual cross-border import in excess of INR 400 billion worth of counterfeits and fake goods.
We hope you have an insightful read.