Friday, July 11, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Banking & Finance

Need for expediency in cases related to economic offences

Fiinews by Fiinews
November 4, 2018
in Banking & Finance, Economy, Investment, Manufacturing, Projects
Reading Time: 2 mins read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Increase capacity building; training of judiciary

 

One of India’s biggest challenges is to protect brands amidst illegal trades while there is an urgent need to increase capacity building and training of judiciary in order to expedite cases related to economic offences.

While India’s ranking on the Ease of doing business index improves, challenges to law and enforcement agencies increases among which the biggest challenge is to protect brands in the country, said D P Dash, Director General, Directorate of Revenue Intelligence.

“Today the use of cyber space for economic offenses has reached higher levels and ransomware attacks on financial sector is the major concern for Delhi Police,” added M M Oberoi, IPS, Special Commissioner of Police Special Cell, Delhi Police.

They highlighted some of the increasing concerns at the 5th edition of MASCRADE – 2018 held 1-2 November 2018 held in Delhi. MASCRADE 2018 (Movement Against Smuggled and Counterfeit Trade) was organized by FICCI CASCADE.

It was a step in the direction to ensure that national and international stakeholders can deliberate to identify opportunities for joint actions between government, private sector, and enforcement machinery to combat illegal trade, said the Federation of Indian Chambers of Commerce and Industry.

The conference looked at:

The economic consequences of mass counterfeiting, smuggling & piracy and the policies needed to deter this activity.

Contributed to an integrated vision of security and public safety.

Deepened the understanding of “grey markets” for smuggled, counterfeit and related pirated commercial goods and

Assessed the impact and tried to provide practical recommendations and effective strategies to mitigate this challenge.

The major reasons behind IP crimes being lack of sensitivity on trademark violation, low priority given to IP related crimes and lack of understanding of law. There is no second opinion that judiciary has a predominant role in addressing counterfeiting and smuggling.

Justice Arjan Kumar Sikri in his valedictory address stated that the laws should be deterrent enough to dissuade perpetrators from such activities.

“I am of the firm conviction that there is a great connect between economics and law. Judges have to keep in mind the economic implications, while granting injunctions in respect to counterfeiting and smuggling. To combat such crimes, judiciary must ensure speedy disposal of cases,” said Sikri.

The gathering deliberated on various issues such as global multilateral response to curb illicit trade; Holistic and sustainable approaches to brand protection; Leveraging Intellectual Property Rights for Economic Growth and Business Competitiveness; Need for a clear policy mandate having concrete elements to provide the impetus needed to contain illicit trade and other forms of economic offences; Fight Against Organized Crime in Illicit and Counterfeit Trade – perspectives from law enforcement agencies and judiciary among others.

A systematic treatment and persuasion by global community for stronger enforcement is needed to address this issue.

The conference was addressed by a host of notable international speakers from World Intellectual Property Organization (WIPO), INTERPOL, United Nations Office for Drugs and Crime (UNODC), Organization for Economic Corporation and Development (OECD), US Homeland Security, NBC Universal and captains from the industry across sectors. Notable senior government officials from DIPP, Department of Law and Justice, Central Board of Indirect taxes and Customs, Directorate of Revenue Intelligence and Police. fiinews.com

Tags: Federation of Indian Chambers of Commerce and Industry
ShareTweetShare

Related Posts

PIB
Projects

Project: Japanese delegation inspects DMIC progress

by Fiinews
July 11, 2025
0
15

Amb Ono appreciates India’s vision for semiconductors The Delhi-Mumbai Industrial Corridor (DMIC), inspired by Japan’s Tokyo–Osaka corridor, continues to benefit...

PIB
Projects

Project: Mindset change is critical for innovation

by Fiinews
July 11, 2025
0
13

Resident Indian patent filings surged by 56% Minister of State for Science & Technology Dr Jitendra Singh says a change...

Gidco Re Tender Notice

Project: 4,000% in installed solar capacity

July 11, 2025
13
PIB

Project: EV policies part of climate goals

July 11, 2025
11
Delivery Of Nistar To Indian Navy

Project: Nistar delivered to Indian navy

July 11, 2025
17
IVCA

Invest: India requires $150-$200bn for renewables

July 10, 2025
25
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Japanese delegation inspects DMIC progress
  • Project: Mindset change is critical for innovation
  • Project: 4,000% in installed solar capacity
  • Project: EV policies part of climate goals
  • Tech: ansrsource-ANSR reshape talent across India

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.