Almost 25% of the products sold on Indian e-commerce & auction sites are fakes. Fake products not only cause brand reputation damage but also pose serious health risks for unsuspecting customers. The overall counterfeit market is reported to be increasing at 44% a year about 4 times the speed of FMCG market. It was estimated to be worth around 1.05 lakh crore market in 2014. India is the world No:1 for manufacturing of fake medicines and fake medicines are known to kill more people in a year than those who have died in the past 40 years as a result of terrorism. “40 years of terrorism has killed about 65,000 people, while 500,000 people worldwide, die from counterfeit medications each year.
India is one of the world’s largest consumers of pirated content. The country’s film industry loses an estimated US$4 billion and around 8,20,000 jobs every year due to piracy. India’s Bollywood film industry, the largest producer of films in the world, is severely threatened by physical and online piracy. Another report by the US-India Business Council and the US Chamber of Commerce’s Global Intellectual Property Centre reveals that losses to the industry from trade in illegal CDs, DVDs, music downloads and cable television account for 38% of potential sales or approximately US $4 billion.