More volume and less tax rates can help check counterfeiting

“By enhancing and making technologies like blockchain more accessible, affordable, and compute-friendly, we can streamline processes like contract management and strengthen our defences against digital counterfeiting”

B. Shanker Jaiswal, the Joint Commissioner of Police (Tech, cyber & licensing), Delhi has said that counterfeiting must not be permitted to become an activity of low-risk and high-gain for counterfeiters. The most effective strategy to combat this menace is to invert this dynamic, making counterfeiting a high-risk and a low-reward venture.

“Achieving this entails increasing the volume of heavily counterfeited goods in the market and imposing reduced taxes on such products. By doing this we can deter counterfeiters and safeguard both consumers and legitimate businesses and the overall economy,” he added.

Addressing the FICCI CASCADE (Committee Against Smuggling and Counterfeiting Destroying the Economy) stakeholder consultation ‘Securing the Digital Frontier: Cooperation, Collaboration, and Best Practices’, Jaiswal added, “Counterfeiting in the physical and the digital space has become pervasive and affects consumers, government revenue, companies and even researchers alike who spend time and effort in creating new products. The digital space has become complicated and complex with counterfeit activities proliferating from fake profiles to fraudulent domain names. To effectively combat this trend, advancements in technology, such as blockchain, are crucial. By enhancing and making technologies like blockchain more accessible, affordable, and compute friendly, we can streamline processes like contract management and strengthen our defences against digital counterfeiting.”

During the event, an Open House Discussion on Technological Innovations & Best Practices in Combating Counterfeiting Online was held to foster cooperation and collaboration among stakeholders to strengthen anti-counterfeiting efforts and protect consumers from the risks associated with counterfeit goods in the digital era. The session was attended by different stakeholders such as cyber-law experts and representatives from - USPTO, JETRO, British High Commission India, Embassy of Denmark in India, Proctor & Gamble, Amazon, HUL, Diageo India, Marico, Pernod Richard, Asian Paints and Western Digital.