New Delhi, April 8 -- At a time when India is witnessing rapid economic expansion, which is reshaping consumption patterns and market dynamics, Minister of Consumer Affairs Pralhad Joshi on Wednesday described illicit trade as a "shadow economy," adding that it is something that undermines consumer trust, as well as economic integrity.
In a video address at the seminar 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 infrastructure."He emphasised that, "the objective is not just consumer protection, ...