An international trade body says a new report on job losses due to counterfeiting is ‘extremely disturbing’ and urges a ‘redoubling’ of authentication of products.
The International Hologram Manufacturers Association (IHMA) was commenting on a report – ‘Illicit Trade: Fueling Terror Financing and Organised Crime’ – launched by FICCI Committee Against Smuggling and Counterfeiting Activities Destroying Economy (CASCADE), at its annual event in New Delhi: MASCRADE 2017 – Movement Against Smuggling and Counterfeit Trade. The report predicts that global job losses due to counterfeit and piracy will exceed five million by 2022 (5.4m) – an increase of 110pc compared to 2013 figures (upwards of 2.6m).
The total economic and social costs globally due to counterfeiting and piracy worldwide, which stood at USD 737 to USD 898 billion in 2013, are expected to rise to USD1.54 to USD1.87 trillion by 2022. The report by KPMG in India covers food and drink, mobile phones, Fast Moving Consumer Goods, cigarettes and other smuggling of goods in India.
Manoj Kochar, pictured, chair of the IHMA, says it’s incumbent upon all those in the fight against counterfeiting to act decisively to stem the impact and secure industry jobs. This report underlines the role technologies such as holograms can play in this battle,” he says. “They remain paramount weapons in tackling counterfeiting and securing authentication in global supply chains.
“It’s again a sobering reminder that the war on counterfeiting remains far from won, heralding a wake-up call for those desperate to protect brands and profits around the world. Efforts need to be redoubled – and quickly – to tackle the problem, and this might include increased integration of holograms as part of brand protection strategies and even more investment in industry talent and skilled experience,” adds Manoj Kochar.
Use of well-designed and properly deployed authentication solutions, as advocated in ISO’s 12931 standard, on authentication, enables examiners to verify the authenticity of a legitimate product, differentiating it from the counterfeits in the market, says the IHMA.
Even those that carry a ‘fake’ authentication feature can be distinguished from the genuine item if that item carries a carefully thought-out authentication solution.
For the 52-page report visit https://assets.kpmg.com/content/dam/kpmg/in/pdf/2017/10/Illicit-Trade_web.pdf.
