The Authentication Solution Providers’ Association (ASPA), a non-profit organization advocating against counterfeiting and illicit trade, has elected a new Governing Body. The newly appointed leaders shed light on the critical issue of counterfeiting, emphasizing its adverse impact on India’s economy and the urgent need for Conscious Consumerism to stem the leakage of precious tax revenue.
Established in 1998, ASPA, a Non-Profit organization, incorporates a 24-year heritage and recognition for being one of the regulated and ethical entities globally. Dedicated to combating counterfeiting and illicit economic activities, ASPA actively contributes to building robust authentication ecosystems and environments in the country.
Manoj Kochar from Holoflex Limited assumes the role of President of ASPA, while Ankit Gupta of Holostik India takes on the responsibilities of Vice President. Luv Shriram, representing Shriram Veritech, holds the positions of General Secretary and Treasurer. Other Governing Body Members include Saurabh Agarwal from Avery Dennison (India) Pvt Ltd, Vikas Jain from ACVISS Technologies, and Ex-Officio member Nakul Pasricha from PharmaSecure. The Co-Opted Governing Body Members are Gaurav Sathaye from United Speciality and Ranesh Bajaj from Vinsak India.
During the meeting, Mr Kochar highlighted that counterfeiting has been a significant hindrance to the growth of India’s economy. Unfortunately, stakeholders, including the government, industry associations, businesses, and consumers, have not accorded the matter the importance it deserves. Mr Kochar explained the categorization of counterfeiting into Deceptive and Non-deceptive markets, where some consumers unknowingly purchase fake products (deceptive), while others intentionally buy counterfeit items (non-deceptive).
According to a recent survey conducted by ASPA, it was discovered that an astonishing 31 percent of people willingly buy fake products, fueling the counterfeit market and encouraging criminals to produce and sell more harmful and inferior fake products. Mr Kochar stressed the critical need to nurture and motivate conscious consumerism, along with active participation in the authentication process, emphasizing that fighting against fakes is impossible without the inclusion of consumers.
Ankit Gupta, the Vice President, stressed that the circulation of counterfeit products has both financial and social repercussions. Counterfeiting tarnishes the country’s reputation and erodes consumer trust. Disturbingly, consumers seem willing to buy fake products even when they are aware of their inauthenticity and potential harm. The survey indicated that 89 percent of consumers acknowledge the presence of fake products in the market, with top categories being Apparel (31%), FMCG (28%), Automotive (25%), Pharmaceuticals (20%), Consumer durables (17%), and Agrochemicals (16%).
Conscious consumerism and active participation in the authentication process are deemed essential to combat counterfeiting effectively. Mr Kochar emphasized that without consumer involvement, the fight against fakes is futile. He urged the need to nurture and motivate conscious consumerism to address the root causes of the issue.
Mr Gupta further emphasized the importance of raising awareness about the dangers associated with purchasing counterfeit products, particularly in critical categories such as pharmaceuticals and FMCG. Consumers need to understand that opting for cheaper alternatives might result in costly mistakes, especially in products directly impacting human health. The top five categories with a high percentage of counterfeit products are those that can directly impact human health through consumption.
The menace of counterfeit, substandard, and falsified products is deeply ingrained in the ecosystem, requiring an immediate strategic plan to counter it. The economic implications are significant, and the saved revenue can be redirected towards effective use. Encouraging conscious consumerism can drive the entire ecosystem toward a positive change, creating a more robust and reliable marketplace.
