Pharma

India being one of the leading global producers of low-cost generic medicines has opened up the gates for counterfeiters making Pharmaceutical industry the most counterfeited industry in India. With the increasing trend of buying medicines online, there is a big rise in the number of online pharmacies which can be proved as dangerous trend in future if not regulated properly. Counterfeit drugs not only shrink profits of pharma companies, it also poses a greater threat to consumers causing serious health issues and can even lead to death.

It is imperative to develop and enforce appropriate mechanisms of effective collaboration between policy makers, police, customs, judiciary, manufacturers, retailers, health authorities & professionals and consumers to alleviate patient concerns and protection.

Move to curb fake drugs

India is the world’s third-largest drug producer by volume and its pharma market is expected to grow to $55 billion by 2020. To control the sale and purchase of counterfeit medicines in pharmacies and hospitals, the Union Health Ministry (UHM) plans to make barcoding mandatory on all medicines sold within India. This important step promises to ensure the authenticity of medicines.

Crop Protection (Pesticides, Insecticides, Seeds)

India is one of the leading grain exporters in the world with a worth of $26 billion a year. Currently, Indian farmers spend $125 million on pesticides every year. Such great demand inevitably attracts counterfeiters. According to a report from the Indian Chamber of Commerce, the use of ineffectual, illegal products leads to the loss of 10.6 million tons of food per year.

Fake pesticides pose a real life challenge to India’s economy, it is not only compromising sustainable agriculture but also posing a direct risk to human health and the environment. With the increase in quantities of fake and illegal pesticides produced, it is easy to slip into the market because farmers are often not able to differentiate between genuine and counterfeit agrochemicals. It is estimated that almost 25 percent of the pesticide market in India is counterfeit or illegal.

Government of India is proactively working towards addressing the unmet needs of the farmers across the Agri-value chain through multiple initiatives like National Agriculture Market (NAM), Soil Health card scheme, Paramparagat Krishi Vikas Yojana, National e-Governance Plan (NeGP), Pradhan Mantri Fasal Bima Yojana, etc. The crop protection industry will play a principal part in government’s aspiration to double farmer’s income by 2022.

Automotive Components

Today, the Indian auto industry has emerged as one of the fastest growing markets in Asia. The Indian auto components aftermarket is expected to touch 75552 crores by FY19-20 and is expected to register a turnover of US$ 100 billion by 2020 as estimated by Automotive Components Manufacturers Association of India. However, the counterfeit business in the auto industry is a rapidly growing issue, affecting automotive parts, accessories, packaging and the vehicles segment as a whole.

The gravity of counterfeiting in auto components is on the extreme, as the market is full of forged goods ranging from fake engine components, fake engine oils, coolants, brakes to fake spare parts, increasingly putting consumer safety at risk. According to FICCI CASCADE, 20 per cent of road accidents in India are caused due to the poor quality counterfeit automobile parts.

The lack of a regulatory framework, poor surveillance and little checks have led to a rise in the grey market of automotive components. All stake holders have to come together to fight this extensive menace of fake putting not only brand reputation and profits at stake, however having the end consumers to deal with fatal road accidents caused by the fake auto parts fitted in their vehicles.