India ranks on 5th Place in forge goods trade, China on Top in the list


Posted on:02 May 2016 16:09:38

India ranks on 5th Place in forge goods trade, China on Top in the list
02 May 2016 Current Affairs: India ranks fifth position in the exports of Fake goods globally, while china is No.1 in the list with a huge 63 % share in the estimated half-a-trillion dollar worldwide imports of forged and pirated goods.

Ranking of Countries affected by global Trade in fake foods:

US

Italy

France

Switzerland

Japan

Value of imported fake goods worldwide at USD 461 billion in 2013, compared with total imports in world trade of USD 17.9 trillion. 5% of goods imported into the European Union are fakesHalf a million customs seizures around the world over 2011-13Fake products handbags, perfumes, machine parts, chemicals and footwear.Causes of Counterfeiting – Endanger lives: Auto parts that fail, pharmaceuticals that make people sick, toys that harm children, baby formula that provides no nourishment and medical instruments that deliver false readingsPostal parcels are the top method of shipping forged goods, accounting for 62% of seizures, reflecting the growing importance of online commerce in international trade.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs June 2017

24 JUNE
NEWS
23 JUNE
NEWS
22 JUNE
NEWS
21 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS

Current Affairs April 2017

29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS
26 APRIL
NEWS