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
Indian startups making key advances in low-cost rockets in threat to SpaceX: Sridhar Vembu

New Delhi, Oct 10: Zoho’s Chief Scientist and Co‑founder Sridhar Vembu on Saturday said that Indian startups are making major advances in low-cost rockets in threat to SpaceX.
“Directly due to Prime Minister Narendra Modi’s government policy, Indian startups are making major advances in low-cost rockets and that poses a threat to SpaceX in the same way the Chinese EVs threaten Tesla,” Vembu posted on X responding to a post by Starlink Founder Elon Musk.
Further, the tech leader also said medicine prices in India are among the lowest globally and pointed to the Unified Payments Interface (UPI) as an example of low‑cost payment infrastructure.
“India has among the lowest drug prices in the world (and is still going lower). People who visit India buy medicines to take home quite regularly now,” the X post said.
“Prime Minister Narendra Modi has worked hard to create a competitive economy where the benefits flow to the average Indian,” Vembu wrote, adding that the Indian government does not tolerate monopolies.
“He has also actively promoted and encouraged a massive surge in startups, and that is the best signal of a highly competitive economy,” the post said.
Vembu supported India’s economic and digital policies, hailing the country’s low data costs and competitive markets.
He said Indians routinely use dual‑SIM phones with large data plans because they are affordable.
“India has among the lowest data prices in the world. It is so good that I don’t even bother to connect to local Wi-Fi when I travel in India and just tether my phone to work on my computer,” he said.
In a separate post on Friday, Vembu said Indians have made major contributions to US technology prowess but warned that many on US visas face the prospect of uprooting lives built through hard work.
“A big part of America no longer wants us,” the Zoho Co-founder said.
Business
Govt disconnects over 82 lakh fraudulent mobile connections via ASTR

New Delhi, Oct 9: India has disconnected over 82 lakh fraudulent mobile connections through the Artificial Intelligence and Facial Recognition powered Telecom SIM Subscriber Verification (ASTR) tool, Union Minister of State for Communications and Rural Development Dr Chandra Sekhar Pemmasani said on Friday.
Addressing the International Telecommunication Union (ITU) Roundtable on “Implementing ITU Standards to Combat Fraudulent Communications” on the sidelines of the India Mobile Congress (IMC) 2026 here, the minister said the country has built a robust and layered defence mechanism against telecom-related fraud and cybercrime.
He noted that organised fraud networks are becoming increasingly sophisticated, with scams involving impersonation, so-called digital arrests, AI-generated voice cloning and deepfakes posing significant challenges. According to the minister, Indians lost more than Rs 22,800 crore to such fraud in 2024.
Dr Pemmasani said India has adopted a five-layered approach to tackle fraudulent communications. This includes real-time blocking of spoofed international calls, identification and disconnection of suspicious mobile connections through the ASTR platform, citizen participation via the Sanchar Saathi initiative, intelligence sharing through the Digital Intelligence Platform (DIP), and targeted action against emerging fraud channels.
Highlighting the impact of these initiatives, he said the Sanchar Saathi app has been downloaded around 25 million times, enabling citizens to actively participate in reporting suspected fraud and misuse of telecom resources.
The minister added that the Digital Intelligence Platform currently connects more than 1,600 organisations, including telecom service providers, banks and law-enforcement agencies, facilitating real-time information sharing to detect and prevent fraudulent activities.
He further said that the Financial Fraud Risk Indicator has helped avert suspected financial losses exceeding Rs 5,000 crore over the past 15 months by enabling timely intervention against fraudulent transactions.
Emphasising the need for international collaboration, Dr Pemmasani said fraud has become a global problem that requires coordinated global solutions.
He underscored the importance of adopting international standards for digital verification of caller identities across networks to curb cross-border fraud.
Welcoming the ITU’s proposal for joint trials among governments, regulators, telecom operators and technology companies, he said India is ready to participate and contribute to the development of global frameworks for trusted communications.
Business
Skill training institutes no less than IITs, IIMs: PM Modi urges youth to champion skill development

New Delhi, Oct 9: Prime Minister Narendra Modi on Friday met members of India’s contingent that delivered an impressive performance at the WorldSkills Competition Shanghai 2026, congratulating the young participants for showcasing their talent and skills on the global stage.
The interaction took place at the Prime Minister’s residence at 7, Lok Kalyan Marg, where PM Modi lauded the competitors for their achievements and encouraged them to continue excelling in their respective fields.
Sharing details of the meeting on social media, the Prime Minister praised the participants for their outstanding performance at the international skills competition and said it was a pleasure to interact with and motivate the young achievers.
The Prime Minister underlined the objective behind establishing a separate Ministry for Skill Development and said that the importance of skill training institutions is no less than that of IITs and IIMs. He encouraged the participants to share their experiences and suggestions with the government to help improve India’s skill training system.
India recorded its best-ever performance at the 48th WorldSkills Competition, held from September 22 to 27 at the National Exhibition and Convention Center (NECC) in Shanghai. The country secured six silver medals and 20 Medallions for Excellence, finishing 10th in the overall rankings.
The latest result marks a significant improvement from the previous edition of the competition held in France’s Lyon in 2024, where India finished 13th with four bronze medals and 12 Medallions for Excellence.
The improved ranking reflects the growing capabilities of India’s skilled workforce and its rising presence in global skills competitions.
According to the Ministry of Skill Development and Entrepreneurship, the six-day event brought together more than 1,400 young competitors from nearly 70 countries and regions.
India fielded its largest-ever contingent, comprising 70 competitors, who participated in 63 skill categories spanning emerging technologies, advanced manufacturing, engineering, creative industries and specialised services.
After four days of intense competition, winners were honoured during the closing ceremony held in Shanghai on September 27. The event celebrated excellence in technical expertise, innovation, precision and craftsmanship, drawing participants, industry leaders, experts and international delegations from across the world.
India’s participation in WorldSkills Shanghai 2026 was coordinated by the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship, with support from Sector Skill Councils, industry partners, training institutions and technical experts.
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