New Delhi: The widespread sale of fake items such as electronics and automotive components has been increasing rapidly in the country and is likely to touch Rs 55,000 crore by 2013 in the absence of any regulatory mechanism, a study has said.
The current market size of counterfeit products sales is about Rs 45,000 crore through illegal channels, Assocham said in a study.
"Sale of fake products has caused a revenue loss of over Rs 5,000 crore to the exchequer in the 2011-12 fiscal", Assocham Secretary General D S Rawat said, adding that in India, Delhi is the hub of counterfeit items as about 75 percent of such products originate here.
The study said rising sale of counterfeit products such as electronics, automotive components, consumer durables and pharmaceuticals has been alarming.
The other areas in which spurious products sale is going on include vegetable oils, ghee and spices, it added.
It said the most popular counterfeit products are clothes followed by pharmaceuticals, shoes, watches, leather goods and jewellery.
The study further said fake products are cheaper than the original ones. Therefore, common man falls for the counterfeit products due to its discounted prices, it added.
The chamber said the present laws are not strict enough to discourage people to sell fake items in the market.
Therefore, Assocham has asked the government to immediately implement bar coding on medicines and electronic items to control sale of fake products, the industry body said.


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