Question

In: Economics

Why do you think counterfeiting is so popular in places like India? Have you had any...

Why do you think counterfeiting is so popular in places like India? Have you had any experience buying counterfeit goods? What are companies doing to fight against counterfeit products?

Solutions

Expert Solution

In India counterfeit is popular in products like saffron certain spices and precious gems .It is popular in these product because generally people don’t have knowledge to find out which is original and which is fake It requires skill to differentiate between original and fake secondly in India there is huge unorganized market like street vendor selling product on streets so you can’t confront them of selling counterfeit product because next day they might not be present over their

I have experienced of buying fake saffron and fake honey but after using it I easily came to know that these are fake products.

Instead of companies government is doing a lot to curb counterfeiting of product for industrial product there is as isi certification which counterfeit product can’t get .There is iso 9001 certification which means a company is producing quality product for food items there is a agmark certification which indicates it is quality agriculture product .


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