fbpx

17 August 2021

REPORT: Counterfeit Impacts Expected to Double

The impacts of the global counterfeit market are expected to double by 2022, according to a new report by the Federation of Indian Chambers of Commerce and Industry’s(FICCI) Committee Against Smuggling and Counterfeiting Activities Destroying Economy (CASCADE).

8%-15% of global GDP is impacted due to illicit trade and criminal activities. It is estimated that the total economic and social costs globally due to counterfeiting and piracy world-wide stood between USD$737 to USD$898 billion in 2013 and this is expected to go up to USD$1.54 to USD$1.87 trillion by 2022, suggesting an increase of 108 per cent. In addition the total employment losses globally due to counterfeit and piracy stood at 2 to 2.6 million jobs in 2013 and is expected to rise to 4.2 to 5.4 million jobs in 2022, suggesting an approximate increase of 110 per cent.

The full report is available at this link.

Genuine Articles

Your car, your choice?
What are genuine parts? Why use genuine parts? How to keep your car genuine Australians want a say in how their vehicles are repaired,
Easter Car Safety Check
Easter weather might be the hardest to predict of the year. Torrential downpour? Crisp sunshine? Both? What’s certain for drivers striking out this Easter
68% of car buyers would pay more for a car repaired with genuine parts
What are genuine parts? Why use genuine parts? How to keep your car genuine Nearly seven in every 10 Australian car buyers, looking to
83% of car buyers would prefer to buy genuine part repaired vehicles
What are genuine parts? Why use genuine parts? How to keep your car genuine 83 per cent of Australians looking to buy a car
81% of car buyers agree: Genuine vehicles a better investment
What are genuine parts? Why use genuine parts? How to keep your car genuine More than eight in every ten people planning to buy
87% of car buyers agree genuine parts maintain car value
What are genuine parts? Why use genuine parts? How to keep your car genuine Nearly nine out of every 10 people planning to buy
Australians Will Pay More for Genuine Vehicles
What are genuine parts? Why use genuine parts? How to keep your car genuine Genuine parts and accessories will protect your investment in your
Drivers Sold Cars with Counterfeit Airbags
In a disturbing story coming out of Philadelphia in the USA, a man has been arrested for importing and installing counterfeit airbags and reselling
Scroll to Top

Subscribe to get
our latest updates

We use cookies

We want to be Genuine with you. We use cookies to personalise content and ads, provide social media features and to analyse traffic. We will never share your personal information, but we may share data about your use of the site with our social media, advertising and analytics partners. (View Terms & Conditions)