As per International Trademark Association “Counterfeiting” is a practice of manufacturing, importing/exporting, distributing, selling or otherwise dealing in goods, often of inferior quality, under a trademark that is identical to or substantially indistinguishable from a registered trademark, without the approval or oversight of the registered trademark owner.
Counterfeiting and piracy is a global problem, impacting virtually every industry sector around the world. India is no exception, suffering significant economic and health and safety consequences as a result of widespread counterfeiting, piracy and smuggling in the country. Counterfeiting rob the innovators in an economy of their intellectual property rights, and this creates significant harm, not only to the innovators, but also to consumers and the economy in general. The advent of technology has helped erode geographical borders, aiding criminal networks operating e-Commerce websites to remain anonymous while reaching global audiences.
Market Size of Counterfeit products
In India, the market for counterfeiting is spread across industries. While e-Commerce websites are hailed for the range and discounts they offer, the medium has come under scrutiny for encouraging sales of counterfeit products.
As per the FICCI report, on the retail side, counterfeiting is confined to identified marketplaces and locations in specific cities in India. Whereas on the wholesale side, some industries such as pharmaceuticals, fast-moving consumer goods and electronics