Beyond financial losses, counterfeiting poses serious risks to consumer safety, public health and brand reputation
The Authentication Solution Providers’ Association (Aspa) has called for greater adoption of authentication and traceability solutions to combat the growing threat of counterfeit products and strengthen consumer trust across industries.
On World Anti-Counterfeiting Day, the association said that counterfeit products continue to affect a wide range of sectors, including pharmaceuticals, agrochemicals, FMCG, automotive components, consumer durable, and industrial products. Beyond financial losses, counterfeiting poses serious risks to consumer safety, public health and brand reputation, the association noted.
Aspa noted the consumer survey, conducted by Crisil Intelligence across 1,639 respondents in nine cities, reveals near-universal exposure to counterfeits, with 89 per cent of consumers reporting that they have purchased a counterfeit product at least once. Consumers also perceive that 29 per cent of products available in local markets are counterfeit.
“These findings underscore the urgent need for wider adoption of authentication and traceability solutions. By embedding trust, transparency, and product verification into supply chains, we can better protect consumers, strengthen brand integrity and build a safer marketplace for all,” stated Ankit Gupta, President, Aspa.
As part of its ongoing efforts to advance dialogue and innovation in this space, Aspa will soon convene stakeholders from industry, government, technology, and academia at the next edition of its flagship Traceability & Authentication Forum (TAF), which will continue the conversation on building trusted products and transparent supply chains.
