India, a global hub for fake auto parts
Rapid growth in the automobile industry has seen the market share of fake spare parts more than treble from 12 per cent to as much as 37 to 47 per cent in the past seven years, according to a study by the Indian Market Research Bureau (IMRB).” Says Rediff.com in a business news article.
“The effectiveness of fake is primarily due to its ability to mimic real, to seem plausible.” Because they are cheap and easily available. Off late there are a lot of studies that are being conducted on a regular basis. Though the government and many private holdings are taking high level measures fake products still hit the market very easily. They are cheap and readily available which makes them create a niche for themselves.
Fake automotive and tricycle parts are responsible for so many accidents through out the world.
The danger is that the fake products are mostly bearings, brake discs, rubber rings, axle boxes etc.,which are actually related to safety. Fake medicines are taken more seriously than fake auto parts because it does not have an immediate impact. The original manufacturers strive to keep up to the international safety standards even if it costs more. There are also revenue losses for the industry and the government in the form of taxes. Manufacturers of fake goods do not fall into the white market. They are invisible.
An article featured in Jan 2018 in the automotive section of NEWS 18 said a top official, “More than Rs 50 lakh worth counterfeit automotive spare parts of two and three-wheeler major TVS Motor Company have been seized in the last three months during raids conducted with the help of police in different states.”
“The fake auto parts industry is growing at an alarming rate” said Mr U.K Gupta, President of Authentication Solution Provider's Association (ASPA), when he spoke to Business Today. Many companies are initiating brand protection programs with holographic solutions, packaging, awareness campaigns etc. Yet! There is small percentage of ignorant consumers who get cheated on a regular basis. On the other hand, there are many consumers who willingly buy fake products only because they are cheaper or readily available. Fighting fake is not just the responsibility of the brand. The 60% onus lies on the consumer. Brand protection is life protection.