General knowledge refresher published this article page no 13 this article was published in magazine loss of tax revenue: loss of revenue to government has a direct impact on welfare spending such as health care education etc. loss of jobs and businesses a 2019 study by ficci held that prevention of smuggling in five key industries can increase employment in india by up to 16.36 lakh jobs. harm to environment: counterfeiters rarely follow safety standards or guidelines for drawing natural resources quality of materials used or in disposing waste. facilities for safe containment or destruction of seized goods or a mechanism to hold counterfeiter liable for costs of destruction are largely absent. health issues: smuggling and counterfeiting also increase the health burden on the state as people often belonging to economically weaker sections fall prey to substandard expired or hazardous goods. vicious cycle: illicit trade generates huge profits most of which go back to the crime syndicates that control this illegal activity. way forward for countering smuggling and counterfeiting countering internal demand: given internal domestic demand for such goods its important to regulate places that can be breeding grounds for proliferation of such illegal goods. for countering spread of such markets it may be worthwhile to constitute an institution that specializes in this task general knowledge refresher magazine subscription.
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