Hologram Industry News

Trade in counterfeit and pirated goods cost Global Economy $650 billion annually as counterfeit and pirated goods roughly represent 9% of total world trade which was at mere 3% in 1990’s, according to The Associated Chambers of Commerce & Industry of India (ASSOCHAM) estimates.
In a Paper on Global Scenario on Counterfeit brought out by ASSOCHAM, it has been pointed out that the major international alcohol brands lose estimated $300 million a year. The economic impact of counterfeiting on legitimate companies in the USA is enormous and estimated at 200-250 billion dollars annually. The US computer software industry as a whole is losing between 12-16 billion dollars annually due to rampant piracy and counterfeiting. This amounts to 40% of all software industry revenues. India ranks 16th in the list of countries with highest software piracy. The US Federal Trade Commission estimates that the US auto industry could hire an additional 210,000 workers by eliminating the manufacture and sale of counterfeit auto parts.

Top 5 Enforcers (of 69) countries (2005-06)
Sl. No. Country Incidents Seizures (US$ million)
1. USA. 205 51.7
2. UK 116 31.1
3. India 87 2.5
4. Malyasia 52 5.9
5. China 43 5.3

Counterfeiting also impacts government and society at large; in Russia alone an estimated $1 billion a year in tax revenue goes uncollected.
10% of the Personal Care products traded worldwide are counterfeit. Counterfeit brand name cosmetics have been found to contain the residue of industrial solvents and carcinogens , which can cause severe skin allergies.
Japanese Motorcycle manufacturers have found counterfeit versions of their products all over the world. 5 out of 6 Yamaha bikes sold in the world are fakes. Counterfeit toys with small sharp breakable parts pose a choking hazard to children or may contain banned toxic paints or dyes. Counterfeit versions of a popular infant food were found on the shelves of major discount supermarket. USFDA later found the fake product in 16 states.

According to ASSOCHAM, the basic cause for increasing cases globally is profit opportunity and a risk-toreward balance that favours criminal activity . To date, anti-counterfeitng laws have been non-existent or the penalties imposed by most governments are vague or not tough enough to act as a detterant. Laws on counterfeiting are often unclear or piecemeal , leading to adhoc enforcement and gaps that criminals can exploit.