June 21, 2024


The Business & Finance guru

E-commerce site, 4 other Indian markets figure in US Notorious Markets Record : The Tribune India


Washington, February 18

India’s popular e-commerce site IndiaMart.com and four other markets, such as New Delhi’s well-known Palika Bazaar, have figured in the most up-to-date once-a-year record of the world’s infamous markets produced by the US Trade Agent.

The 2021 Infamous Markets Checklist introduced on Thursday determined 42 on the net and 35 bodily markets around the globe that are reported to engage in or facilitate sizeable trademark counterfeiting or copyright piracy.

The three other Indian marketplaces in the record are Heera Panna in Mumbai, Kidderpore in Kolkata and Tank Street in Delhi.

“The global trade in counterfeit and pirated products undermines significant US innovation and creativity and harms American personnel,” reported US Trade Consultant Katherine Tai.

“This illicit trade also raises the vulnerability of staff included in the producing of counterfeit items to exploitative labour tactics, and the counterfeit merchandise can pose substantial hazards to the health and fitness and safety of customers and personnel close to the environment,” she explained.

The USTR report reported IndiaMART, an e-commerce internet site and cell app that connects prospective buyers with suppliers, describes itself as the world’s second most significant on-line business enterprise-to-enterprise market. Counterfeit merchandise can allegedly be found in big volumes on IndiaMART, together with counterfeit pharmaceuticals, electronics and apparel.

Correct holders are involved with IndiaMART’s failure to sufficiently implement anti-counterfeiting best procedures, such as seller verification, penalties towards recognized sellers of counterfeit merchandise, or proactive monitoring of infringing products.

IndiaMART evidently has a detect-and-takedown procedure, but right holders report that it is burdensome to use, the time-to-takedown is slow, and the position of notices is not transparently communicated to proper holders, the report stated.

The USTR explained a important indoor sector found at the heart of Mumbai, Heera Panna, reportedly presents counterfeit watches, footwear, extras, and cosmetics. Appropriate holders warn that counterfeit cosmetics offered at this market place have health and basic safety pitfalls. A raid at Heera Panna in September 2021 resulted in arrests for marketing counterfeit variations of quality watches.

Locally acknowledged as ‘Fancy Market’, Kidderpore allegedly sells counterfeit attire and cosmetics, normally in wholesale quantities. Extreme skin troubles, rashes, irritation, and eye disorders have reportedly been brought about thanks to the inadequate high quality of the counterfeits, the report said.

Palika Bazaar continues to be on the notorious market list (NML) in 2021. This underground marketplace in Delhi is seemingly properly-identified for the trade of counterfeit merchandise, these kinds of as cell equipment, cosmetics, watches and eyewear.

Quite a few consumers are reportedly college students and other younger persons who want trendy products and solutions at low-priced prices. The market is also a preferred desired destination for tourists, the report noted.

Suitable holders report that Delhi’s wholesale Tank Road current market carries on to offer counterfeit products and solutions, such as apparel, footwear, watches, handbags, electronics, and splendor merchandise. Wholesale counterfeit items are also reportedly provided from this market to other Indian markets, including Gaffar Market and Ajmal Khan Road, the report mentioned.

“Right holders be aware that conducting enforcement steps at this locale is demanding, as the marketplace is situated in a household spot and sellers usually appear to have state-of-the-art awareness of raids, restricting their performance,” it reported.

USTR is an agency of the US govt responsible for establishing and marketing American trade policy.

USTR to start with discovered infamous marketplaces in the Particular 301 Report in 2006. Considering the fact that February 2011, USTR has been publishing yearly the Notorious Marketplaces Listing individually from the Exclusive 301 Report, to increase general public recognition and assistance industry operators and governments prioritise intellectual property enforcement initiatives that defend American organizations and their employees.