ASPA has formed its new governing body for the term 2023-2025. Manoj Kochar of Holoflex has been elected as the president, Ankit Gupta of Holostik India as the vice president, Luv Shriram of Shriram Veritech as the general secretary and treasurer. Other members of the governing body include Saurabh Agarwal of Avery Dennison (India), Vikas Jain of ACVISS Technologies, and ex-officio member Nakul Pasricha of PharmaSecure. The co-opted governing body members are Gaurav Sathaye of United Speciality and Ranesh Bajaj of Vinsak India.
During the meeting, President Manoj Kochar emphasized the severity of counterfeiting, which poses a significant obstacle to India’s economic growth. He highlighted the distinction between deceptive and non-deceptive markets, noting that 31% of consumers willingly purchase fake products, fueling the counterfeit market. Kochar stressed the need for conscious consumerism and active consumer participation in the authentication process, asserting that combating fakes is impossible without consumer inclusion.
Vice President Ankit Gupta echoed these sentiments, emphasizing the financial and social repercussions of counterfeit products. Gupta revealed that 89% of consumers acknowledge the presence of fake products, with top categories being Apparel (31%), FMCG (28%), Automotive (25%), Pharmaceuticals (20%), Consumer durables (17%), and Agrochemicals (16%). He stressed the importance of raising awareness about the dangers associated with buying fake products, especially in critical categories like pharmaceuticals and FMCG, which can have severe health impacts.
The ASPA Governing Body underscored the urgent need for a strategic plan to counter the menace of counterfeit, substandard, and falsified products deeply rooted in the ecosystem. They emphasized the immediate requirement for India to prioritize conscious consumerism to curb the leakage of precious tax revenue, redirecting saved revenue for the betterment of the Indian economy.