Due to the widespread problem of counterfeit and smuggled goods, the Federation of Indian Chambers of Commerce and Industry (FICCI) created the Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE) on 18 January 2011.
India's economic growth has attracted global attention, and has brought many new challenges for the domestic economy. One of the challenges is the growing trade in counterfeiting and piracy and smuggled goods. Counterfeits and smuggled goods threaten brands in every region of India. As seen elsewhere around the world, contraband and counterfeit products hurt the integrity of the brand and further dilute the brand owners' reputation. This not only results in erosion of sales of the legitimate product but also presents serious health and safety risks to consumers.
As a result, the Federation of Indian Chambers of Commerce and Industry (FICCI) took the initiative to establish the Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE) on 18 January 2011.
As part of its efforts to create awareness, CASCADE commissioned a special study in 2012 on the impact of smuggling and counterfeiting on seven key sectors of the economy. The report, prepared by the Thought Arbitrage Research Institute (TARI), New Delhi, estimates the size of counterfeiting and piracy in selected industry sectors in India and projects the economic loss to industry, government and consequent social impact.