Ficci CASCADE unveils BeACASCADER campaign against illicit trade

Ficci Committee Against Smuggling and Counterfeiting Destroying Economy (CASCE) has initiated an awareness campaign titled #BeACASCER to tackle illicit tre, which poses a threat to India's economic growth.

campaign aims to educate public about detrimental consequences of smuggling and illicit tre. According to a report titled 'Illicit Markets: A Threat to Our National Interests,' tax losses due to such activities have surged by 163 per cent from 2010 to 2020.

Five key sectors, including alcoholic beverages, mobile phones, FMCG household and personal goods, FMCG-packaged foods, and tobacco products, have collectively incurred a financial loss of Rs 58,521 crore during dece.

Tax revenue crisis

alcohol industry witnessed an alarming increase in tax loss by over 508 per cent, while FMCG packaged foods industry and tobacco industry faced substantial losses of 201 per cent and 113 per cent, respectively.

Anil Rajput, chairperson of Ficci CASCE, emphasised that illicit tre not only causes a loss of legitimate tax revenue but also necessitates ditional allocation of resources for enforcement and public health measures. It also negatively impacts employment and economic growth.

"Illicit tre inflicts significant harm on individual industries and has a substantial negative impact on employment generation and economic growth. Illicit tre also poses a dual challenge for government," he said.

#BeACASCER campaign seeks to encourage public participation in curbing illicit tre and safeguarding economy's interests. By raising awareness and fostering a sense of responsibility among citizens, Ficci CASCE aims to combat smuggling and counterfeiting effectively.

(With PTI inputs)