Business
Gujarat Police seized counterfeit goods worth Rs 12.5 crore in last 2 years

The recent biggest seizure in Gujarat included duplicate versions of sunglasses of a high-end brand, worth Rs 6 crore, said Saurabh Tolumbia, Deputy Inspector General of Police, CID (Crime and Railways), Gujarat.
Addressing the ‘Capacity Building Programme for Police Officers on Prevention of Counterfeiting and Smuggling’ organised by FICCI’s Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE), Tolumbia said: “There have been 46 copyright cases over the last 2 years and Gujarat Police have managed to seize counterfeit goods worth Rs 12.5 crore.”
He further that the police have seized duplicate watches of high-end brands, amounting to more than Rs 3 crore 31 lakh, and duplicate mobile accessories worth Rs 83 lakh.
P.C. Jha, Advisor, FICCI CASCADE and Former Chairman, Central Board of Indirect Taxes and Customs said: “The illegal activities of counterfeiting and smuggling are flooding the market with substandard fake goods which are produced without following quality norms at unhygienic places, and are sold without issuing bills, thus contributing towards increase in unaccounted money.”
Trade in counterfeit and smuggled goods has developed a substantial threat to the economy of our country and pose serious safety and security hazards to the society at large, he added.
He also stated that the valiant police officers of Gujarat Police, have over the last couple of months taken several actions against criminals dealing with fake currency, illicit alcohol, smuggled cigarettes, fake injections and drugs.
While giving an overview on Socio-Economic Impact of Counterfeiting and Smuggling, Deep Chand, Advisor, FICCI CASCADE and Former Special Commissioner of Police, New Delhi highlighted the global estimates of illicit trade.
He said that the wider social, investment and criminal enforcement costs due to smuggling and counterfeiting could touch $4.2 trillion by 2022, putting at risk 5.4 million legitimate jobs. As per the recent study, in FY 2018-19, Indian economy lost Rs 1.17 lakh crore due to smuggling in the five key sectors and total livelihood opportunities lost is 16.36 lacs, he added.
Pradeep Dixit, Vice President, Industry Affairs, ITC Ltd said: “Smuggling and Counterfeiting expands black markets and encourages a convergence between organised crime, terrorist groups and other threat networks.”
Generating mass awareness amongst the consumers is an important mean to curtail the hazards of growing illicit trade, added Dixit.
Nitin Saluja, Senior Policy Manager, Customer Trust, Amazon India discussed about Amazon’s efforts in mitigating fraud and abuse on marketplaces that hamper customer trust and how Amazon via its various initiatives puts in enormous resources to deliver on its established tenets and to make its marketplace a reliable and safe platform for customers, brands, and sellers to conduct transactions.
Business
FM Sitharaman to showcase India’s economic dynamism during US, Peru visit

New Delhi, April 19: Union Finance Minister Nirmala Sitharaman is set to embark on an official visit to the US and Peru, beginning April 20, where she is slated to participate in multilateral dialogues to showcase India’s economic dynamism, as the country prepares a bilateral trade agreement (BTA) with the US, it was announced on Saturday.
During her visit to the US, the Finance Minister will visit San Francisco and Washington, DC, from April 20-25, according to a Ministry of Finance statement.
In San Francisco, FM Sitharaman would deliver a keynote address at the Hoover Institution at Stanford University, titled ‘Laying the foundations of Viksit Bharat 2047,’ followed by a fireside chat session.
The Finance Minister will also interact with top CEOs from prominent fund management firms during a roundtable meeting with investors, besides holding bilateral meetings with CEOs from top information technology (IT) firms based in San Francisco.
She will also participate in an event featuring the Indian diaspora in San Francisco and interact with the Indian community settled there, said the ministry.
In Washington, DC, FM Sitharaman will participate in the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, the 2nd G20 Finance Ministers and Central Bank Governors (FMCBG) Meetings, the Development Committee Plenary, IMFC Plenary, and Global Sovereign Debt Roundtable (GSDR) meeting.
On the sidelines of the Spring Meetings, she will hold bilateral meetings with her counterparts from several countries, including Argentina, Bahrain, Germany, France, Luxembourg, Saudi Arabia, United Kingdom, and the US; besides meeting EU Commissioner for Financial Services; President, Asian Development Bank (ADB); President, Asian Infrastructure Investment Bank (AIIB); United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA); and First Deputy Managing Director of the International Monetary Fund (IMF).
During her maiden visit to Peru from April 26-30, the Finance Minister will lead an Indian delegation of officials from the Ministry of Finance and business leaders, highlighting the strengthening bilateral economic and trade relations between the two nations.
Beginning her visit in Lima, she is expected to call on the President of Peru, Dina Boluarte, and Prime Minister Gustavo Adrianzen, besides holding bilateral meetings with the Peruvian Ministers of Finance and Economy, Defence, Energy and Mines, and also holding interaction with local public representatives.
The Finance Minister will chair the India-Peru Business Forum meeting with prominent business representatives in attendance from both India and Peru.
FM Sitharaman will also hold an interaction with the Indian investors and businesses currently operating in Peru, as well as the Indian business delegation visiting Peru. The Finance Minister will also participate in a community event in Lima, where she will interact with the Indian diaspora living in Peru, according to the ministry statement.
Business
Foreign investors infuse Rs 8,500 crore into Indian equities this week

Mumbai, April 19: Foreign investors have once again turned their attention to Indian equities, pumping in around Rs 8,500 crore during the week, as per the latest National Securities Depository Limited (NSDL) data.
The inflows came in during just three trading sessions — Tuesday, Wednesday, and Thursday — as stock markets remained closed on Monday and Friday due to public holidays.
This marks a positive turnaround after months of consistent selling by foreign institutional investors (FIIs) in the equity segment. Their return helped the markets end the week on a strong note.
Both the Indian equity indices wrapped up the week on a strong recovery by surging over 4.5 per cent — driven by positive signals from both domestic and global factors.
The rally was primarily fuelled by optimism surrounding the deferral of tariffs and recent exemptions on select products, raising hopes for potential negotiations that could mitigate the impact on global trade.
A key reason behind this fresh wave of investment is the weakening of the US dollar. As the dollar slips and currencies like the Indian rupee gain strength, global investors find it more attractive to move funds from the US to emerging markets like India.
While these inflows bring temporary relief to the markets, analysts say the coming weeks will be crucial.
“Investors will be watching closely to see whether this positive trend continues or if global factors once again influence foreign investment in Indian stocks,” experts noted.
As per market experts, in the coming week, market participants will closely watch the quarterly earnings of major companies like Infosys, HDFC Bank, and ICICI Bank.
Other key players, including HCL Technologies, Axis Bank, Hindustan Unilever and Maruti Suzuki India are also set to release their financial results.
Meanwhile, the expiry of the April derivatives series could add to market volatility. On the global front, any developments related to tariffs and their potential impact on international markets will also be closely tracked, the experts mentioned.
Exclusive
Calcutta HC allows NGO to distribute relief material in communal violence-hit Murshidabad

Kolkata, April 17: A single-judge bench of the Calcutta High Court, on Thursday, permitted a non-government organisation (NGO) to visit the communal violence-hit Murshidabad and distribute relief material among the affected people.
While granting permission to the NGO christened ‘Khola Hawa (Open Air)’, which was earlier denied permission by the district administration, the single-judge bench of Justice Amrita Sinha observed that there was no rule that organisations other than government bodies would not have permission to distribute relief materials at any place.
She also observed that the existing law and order problem could not be an excuse for denying permission, since the Central Armed Police Forces (CAPF) were already posted in Murshidabad.
The NGO approached the bench of Justice Sinha after the Murshidabad district magistrate denied permission for its members to visit the troubled spots in the district to distribute relief there. Parts of Murshidabad district in West Bengal have been on the boil last week after protests over the Waqf (Amendment) Act turned violent.
In the petition, the NGO alleged that while the district administration was allowing different political parties to reach the troubled spots with relief materials, the permission to the organisation was deliberately denied.
The matter came up for hearing on Thursday afternoon. The counsel for the NGO argued that there was no reason for the district magistrate to deny the permission since the state Director General of Police had already claimed that the situation at Murshidabad was currently more or less normal. “The NGO members want to go there to distribute relief items like tarpaulin, food, and medicines to those affected,” the counsel of Khola Hawa argued.
Although the state government opposed the arguments, Justice Sinha finally accepted the argument of the counsel of Khola Hawa and permitted the NGO to visit the troubled spots and distribute relief items there.
However, she maintained that only three members of a relief team should visit any troubled spot at a time for the time being. At the same time, these three team members would have to inform the district magistrate at least 24 hours in advance about their visit. The visiting team members, as per the court order, should also not make any provocative statements during the process of relief distribution that might trigger tension in the area again.
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