ASPA suggests India to prioritise conscious consumerism

Under the new leadership, the pioneering think tank shares a critical insight into the issue of counterfeiting that is depriving India of precious revenue

06 Dec 2023 | By Disha Chakraborty

The non-deceptive market is the most critical aspect fueling widespread counterfeiting and  illicit trade across the country and plaguing almost all industries. The Authentication Solution Providers Association (ASPA), which is the advocate against counterfeiting and illicit trade, elects a new governing body. ASPA’s new governing body said “There is an immediate need for  India to priorities conscious consumerism to curb the leak of precious tax revenue for the betterment of  the Indian economy”. 

The menace of counterfeit, substandard and falsified products is rooted deep into the ecosystem and  auctioning a strategic plan to counter it cannot be pushed further. It is an immediate need of the Indian  economy which can put the saved revenue into effective use. By encouraging conscious consumerism, the  whole ecosystem can be pushed towards a positive change.  

Manoj Kochar, Holoflex has been voted as the President of ASPA. Ankit Gupta, Holostik has been given the responsibility of Vice President. Luv Shriram, Shriram Veritech is the  General Secretary and Treasurer. The names of the governing body members are Saurabh Agarwal,  Avery Dennison;  Vikas Jain, ACVISS Technologies; and Ex-Officio: Mr. Nakul Pasricha,  PharmaSecure. Co-opted governing body members are Gaurav Sathaye, United Speciality and Ranesh Bajaj, Vinsak. 

Sharing insights during the meeting Manoj Kochar, President, ASPA said, “Counterfeiting has and  continues to be a very serious hindrance that has been slowing down the growth of India’s Economy.  Unfortunately, neither of the stakeholders, be it the government, industry associations, businesses or the  consumers give the matter the importance it deserves. Counterfeiting is divided into deceptive and non deceptive markets. In simpler terms some consumers buy a fake under the impression that it is an original  (deceptive) and some consumers buy the product knowing that it is a fake (non-deceptive). In a recent  survey done by us, it was found that an astonishing 31% of people willingly buy a fake product. This non-deceptive market fuels the counterfeit market and encourages criminals  to produce and sell more such harmful and inferior fake products. It is extremely critical to nurture and  motivate conscious consumerism plus active participation in the authentication process. Without the inclusion of the consumers it is impossible to fight against fakes.” 

Ankit Gupta, Vice President, ASPA, “Circulation of counterfeit products does not only have financial  but also social repercussions. It tarnishes the reputation of the country and reduces the faith of consumers. It  is disheartening to see that consumers have lost so much faith that they are okay in buying a product even  when they know that it is a fake and it could be harmful for them. Almost 89 % of consumers acknowledge the presence of fake products in the market, even after discovering a fake product consumers take no or negligible action against it. The survey revealed that top categories in which consumers come across fakes are apparel (31%), FMCG (28%), automotive (25%), pharmaceuticals  (20%),  consumer durables (17%), and agrochemicals (16%). 

Awareness about the dangers associated with buying a fake product. They need to know that they might  be spending less money but they might be making a very costly mistake. In critical products such as  pharmaceuticals, food, alcohol, etc, this mistake could cost lives. Products which can have a direct impact  on human health on consumption such as FMCG and Pharmaceutical are among the top 5 categories  which have a high percentage of fakes.” 

 

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