Counterfeit vehicle parts has grown to be worth US$16bn worldwide and is growing at an estimated 9-11% a year
The global market for counterfeit vehicle parts has grown exponentially over the last five years to be worth US$16bn worldwide and is growing at an estimated 9-11% a year, as organised crime shifts into counterfeiting over other forms of revenue.
Fake automobile spare parts worth Rs. 1.10 crore were seized and three people arrested, police said Wednesday.