India, Sept. 18 -- Ram Nath Kovind, Former President of India, on Thursday, while addressing the FICCI-CASCADE 'MASCRADE 2026' (Movement Against Smuggled and Counterfeit Trade), said that trust is the invisible foundation of every healthy economy and smuggling, counterfeiting gradually erode that trust. "Consumers trust manufacturers, manufacturers trust the supply chain, investors trust their institutions and their regulators. Smuggling and counterfeiting gradually erode that trust. The entire economic system is based on trust. Therefore, the movement against counterfeiting and smuggling is about protecting the trust in the systems and institutions that allow an economy to function," he added.

Kovind further stated that in today's world...