Says a study by Nielsen and ACMA (Automotive Component Manufacturing Association of India). The auto aftermarket is worth Rs 40,000 crore, as per the same study. Fakes account for 36 percent of the pie. Amid the loss to the government exchequer — Rs 2,700 crore per annum – is the incomputable value of the loss of life.
From fake engine components, fake engine oils, coolants, and so on, you name it and they fake it.
"Counterfeit products were typically sold at known hot spots in each city: outside railway stations or weekly markets, where consumers are in a hurry and it is not easy to trace back the seller. Now counterfeiters are also becoming active on e-commerce.
Business Giants and E-commerce companies are also facing the brunt of counterfeit products .Alibaba was a victim of counterfeits as the sale of one fake product could lead to the loss of five customers, the fight against counterfeits is not a matter for Alibaba alone as they are sold everywhere. Only improved laws will help honest businesses to build competitive brands.
Who Will Bring On The Counter Strike?
It is a hard task considering this mammoth industry grows irrespective of the mini holocausts it's subjected to by way of raids and arrests.
To settle the debate between raids and investigation. "At this point, everybody is in a reactive mode than a preventive one. No one knows what the right solution is, but every Company is doing its bit to check it to the best of their ability."
How Brands and Fakes helps business houses to fight such “Hurdles” –
a). 360 degree Brand Protection-
By taking swift criminal & civil enforcement actions
IP Internet and Field Research
Campaigns and Engagements
b). Managing Unfair Competition
c). External Risk Management
d). IP Information Dissemination
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Brands and Fakes has aligned the capabilities of the service delivery eco system with the industry verticals, so that the Brands under various industry verticals and sub verticals are able to get services from expertise in their specific domains.