FICCI Committee Against Smuggling and Counterfeiting Destroying the Economy (CASCADE) has urged the government to launch a strong international campaign against the menace of smuggling.
FICCI CASCADE said in a statement that it noted that the magnitude of smuggling and the damage it could cause to the country’s economy could hinder India’s march towards a $40 trillion economy under the government’s Amrit Kaal vision.
While FICCI CASCADE last year took the initiative to mark February 11 as Anti-Trafficking Day, now the body is appealing to the government to highlight the issue of trafficking on the world stage and work with the United Nations to ‘ Declared an ‘international enemy’. Smuggling Day’.
The importance of the need for a high-impact international campaign against smuggling can be understood in the context of the huge losses that smuggling causes to the Indian economy.
According to the 2022 FICCI CASCADE study – ‘Illicit Markets: Threat to our National Interest’, over a period of 10 years, tax loss to the government India Because illegal trade has increased by 163% to reach Rs 58,521 crore (from Rs 22,230 crore) for 5 major industries – alcoholic beverages, mobile phones, FMCG-household and personal goods, FMCG-packaged foods and tobacco products.
Tax losses due to illegal trade in two highly regulated and taxed industries – alcohol and tobacco products – increased by 227% over the same period, the report said.
FMCG categories, packaged foods and household and personal goods saw a 162 per cent increase in losses during the same period. In this 10 year period the total size of the illegal market increased to Rs. 2,60,094 crores.
With a view to highlight the issue internationally, FICCI CASCADE is of the view that the campaign should be driven from the top level of the government – the Prime Minister’s Office.
PC Jha, former CBIC chairman and advisor, FICCI CASCADE, said, “There is now a need for various ministries to come together to strengthen the existing efforts to highlight the issue at the international forum. For example, the Ministry of External Affairs may place smuggling as a discussion agenda in international fora such as the United Nations General Assembly, while the Ministry of Finance may provide information about the actual impact of smuggling on the economy based on in-depth studies for such confirmation. can provide. discussions.”
Anil Rajput, President, FICCI CASCADE, said, “An International Anti-Trafficking Day declared by the United Nations provides impetus to an international campaign against trafficking by bringing together nations – developing and developed, international institutions, policy makers, industry, enforcement agencies and Will do. Media.”
“It will highlight the growing menace of smuggling and create awareness among consumers and youth to reduce smuggling, which has now become a hindrance to nation building,” Rajput said.
In India, the Directorate of Revenue Intelligence (DRI) under the Ministry of Finance is the lead intelligence and enforcement agency on anti-smuggling matters under the aegis of the Central Board of Indirect Taxes and Customs (CBIC). It came into existence on December 04, 1957.
With its headquarters at New Delhi, DRI has 12 regional units, 35 regional units and 15 sub-regional units, with a work strength of approximately 800 officers.
In budget 2023 speech, Finance Minister Nirmala Sitharaman outlined the vision for Amrit Kaal, a 25-year-long journey of India @ 100 (2047).
“Our vision for Amrit Kaal includes a technology-driven and knowledge-based economy with strong public finances and a strong financial sector.” to get it, Public Participation By Sabka Saath Sabka Prayas Necessary, he added.
To achieve this vision, the economic agenda will focus on three priorities:
- providing adequate opportunities to the citizens, especially the youth, to fulfill their aspirations;
- providing a strong impetus to growth and job creation; And
- Strengthening Macro-Economic Stability
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