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Business News/ News / India/  Illicit goods trade stood at 2.6 tn in FY20: Ficci
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Illicit goods trade stood at ₹2.6 tn in FY20: Ficci

The FMCG industry including household and personal care goods, and packaged foods together accounted for three-fourth of the total value of illicit goods sold in the five key industries, Ficci said

Photo: ReutersPremium
Photo: Reuters

NEW DELHI:Sale of illicit consumer goods such as mobile phones, fast moving consumer products, packaged food, tobacco products and liquor stood at 2.6 trillion in 2019-20, according to a report by industry body Ficci.

The FMCG industry including household and personal care goods, and packaged foods together accounted for three-fourth of the total value of illicit goods sold in the five key industries, Ficci’s Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE) said in its report released Thursday.

According to the report, the estimated loss to the exchequer due to the illicit trade in these five key industries was 58,521 crore. Two highly regulated and taxed industries—tobacco products and alcoholic beverages—account for 49% of the overall tax loss.

 

 

 

 

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Published: 23 Sep 2022, 01:20 AM IST
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