New Delhi: The Certification Industry Association (ASPA) has reported that fake products cause a total loss of over Rs 1 lakh crore to the country every year. The association said there is a need to create awareness, monitor and find ways to deal with counterfeit products to reduce the loss.
Speaking to an agency, ASPA Chief Nakul Pashricha said, "Currently, fake products cost the country around Rs 1.05 lakh crore every year. 50 percent of the counterfeit products can save the country Rs.
"ASPA focused on adopting certification technology and solutions for the protection of brands, incomes, and documents. The pharmaceutical sector has suffered the most from these spurious products. These spurious drugs are also posing a great threat to the health of the common people. Referring to this, ASPA President Pasricha said that the government needs to take necessary steps in this direction. There are a total of 60 members in the ASPA institution. After marketization, the flow of spurious products in the market has increased. Identification and removal of spurious products from the market is nothing short of a challenge for the Government.
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