India, April 9 -- At a time when India's rapid economic expansion is reshaping consumption patterns and market dynamics, Union Minister of Consumer Affairs, Food & Public Distribution and Minister of New and Renewable Energy, Pralhad Joshi, described illicit trade as a "shadow economy" while addressing the seminar virtually.

In a special video address at the seminar "Protecting Consumers: Addressing the Threat of Smuggling and Counterfeiting" organised by FICCI CASCADE, the Minister said, "smuggling and counterfeiting are far from victimless crimes. They expose consumers to unsafe, substandard and even toxic products, undermine honest businesses, and erode government revenues that could otherwise be invested in public welfare and infrast...