Counterfeit electronics' market increases twice the genuine goods

The government has set up monitoring mechanism to keep a check on counterfeit electronics products as their market is surging twice as fast as the genuine goods market.
Counterfeit electronics' market increases twice the genuine goods

The government has set up monitoring mechanism to keep a check on counterfeit electronics products as their market is surging twice as fast as the genuine goods market, says a PTI report.

Telecom Minister Ravi Shankar Prasad in Lok Sabha said: ‘While separate study for electronics products is not available, according to a study conducted by Associated Chambers of Commerce and Industry of India, the counterfeit market is growing twice as fast as the market for genuine goods.’

"The present size of counterfeit products in India is five per cent of the overall market size and growing at a rate almost double of that of genuine products which is worth over Rs 2,500 crore and is likely to grow to Rs 5,600 crore in next year," he said during Question Hour.

Prasad said proper mechanism has been set up to monitor counterfeit products and check them and quality compliance of all genuine products, and if the electronics manufacturing industry grows properly in India, it has the potential to provide jobs to two crore young people.

As per the report, Prasad said the Department of Electronic and Information Technology had notified 'Electronic and IT goods (Requirements for Compulsory Registration) order 2012 under compulsory registration scheme of Bureau of Indian Standards. The order mandated that 15 electronics and IT goods be tested for meeting Indian safety standards. In November 2014, the Department notified 15 additional electronics items under this order, he said.
 

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