India counterfeit market is INR 3 trillion+
India counterfeit market is INR 3 trillion+
E-commerce contributes ~ 25% to fake industry
Counterfeit luxury market growing 20% rate
With growth in Indian economy, the menace of counterfeit products is also growing, resulting in
loss of brand reputation and revenues for businesses, and
health and other hazards for consumers of such products
Rate of growth of counterfeit > the rate of growth of the industry
The present methods to detect counterfeits are inadequate and unviable
Initiatives are needed to support original manufacturers/brand owners and consumers against deceit counterfeits
The Indian industry loses a whopping ₹ 2,60,094 crores every year to illicit trade, and a corresponding loss to the Government of ₹ 58,521 crores per year! These were estimates done by a TARI-FICCI study for the year 2019-20. Since then, with growth of Indian GDP, the grey markets have also proliferated and have become a larger menace
Established as a private limited company in Jan 2019, based in NCR of Delhi, India.
A unique /non duplicable tech solution to original manufacturers and brand owners to fight counterfeit products Without disrupting their established systems & processes
B2B2C model – businesses get attached to the platform, and channel partners and end-users use the LAMICheck App to scan the products to be authenticated.
