TS relies on Blockchain, AI to deter conunterfeiting

Hyderabad: TELANGANA government is using Blockchain and Artificial Intelligence (AI) technologies to deter counterfeiting, said Jayesh Ranjan, Principal Secretary, Commerce and IT, Telangana, in a webinar organised by Ficci's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (Cascade) on 'Combating Counterfeiting and Smuggling during the Covid-19 pandemic and beyond'.

The Secretary said that the long-time multiplier effect of crimes such as counterfeiting, and smuggling are very harmful to the society at large and impact effective governance. It is very unfortunate that some people are trying to take advantage of this pandemic and thinking of counterfeiting and faking the Covid-19 vaccines.

The Telangana government is extremely cautious in protecting the larger public interest and is using latest technology to create a deterrent environment against such crimes, he added.

"Discussions on combating smuggling and counterfeiting are even more important in the context of Covid-19, which is impacting the economy and is endangering lives of people. Illicit trade adversely impacts the manufacturing strength of the nation and if not checked will act as barrier to the government's vision of making India a global manufacturing hub," said T Muralidharan, chairman, Ficci Telangana State Council and Chairman, TMI Group.

"Ficci Cascade recently had recommended to the Govt of India for setting up of an umbrella body i.e., a multi-agency centre to ensure proper coordination amongst the concerned Ministries /Departments /Enforcement agencies to address the problems arising out of illicit trade. This nodal agency could share intelligence and enhance cooperation among national and international bodies. Further, it could also make policy recommendations and build capacities to address the menace of counterfeiting and smuggling," said Anil Sinha, former director, CBI, and Think Tank Member, Ficci Cascade.