Developed by CII with the support of GS1 India, this is a first of its kind report on the Indian FMCG Industry. Counterfeit products have an economy-wide effect on trade, investment, employment, innovation, environment, and most importantly, on the health and safety of consumers. They also has a negative impact on a company’s brand image, which ultimately results in loss of revenue for industry and governments. In 2014, Industry reports estimated the FMCG counterfeit market to be worth Rs. 68,000 crore highlighting the extent of the problem.
The report provides insights on global standards-based best practices and anti-counterfeiting technologies and solutions that companies can adopt. It also provides recommendations on what an effective anti-counterfeit strategy should look like along with an adoption roadmap for Indian FMCG companies and the Retail Industry.In its recommendation the report urges Indian FMCG Companies & the Retail Industry to adopt a holistic approach to their anti-counterfeit adoption strategies which combines the use of technology and Standards. The report recommends implementing additional covert or overt technologies if so desired, based on product criticality. There would however be associated additional costs of such implementations, which need to be factored in by organisations. The report also provides a roadmap for retailers and brand owners on how to implement an effective solution with these foundational components (barcodes/RFID with global identification standards) and enable consumers to spot authenticate goods using simple devices like mobile phones etc.