Indian textile companies and textile manufacturers are making huge strides in their battle against the rise of fake brands, in a bid to combat the scourge of copycat goods.
The government has launched a campaign against imitation goods in an effort to combat counterfeiters.
In the past few months, textiles companies have gone from a market that had few options to one where all major brands are in the game.
As the government looks to boost the local economy, the industry is being targeted by the counterfeiters who are able to target a company by its name without any evidence of a link to the actual brand.
A survey carried out by the National Institute of Textiles (INT) in February this year found that about 45% of Indian companies use fake names.
This compares with 27% in the United States and 17% in France.
The report said that Indian textil companies were working hard to combat this problem.
The survey revealed that of all the companies surveyed, 46% of those that use the name of a company that does not exist had to change the name to avoid detection.
But many companies have to use a fictitious name to protect their brands, according to the survey.
A large number of Indian firms are also using the names of local brands.
This, says the survey, was the result of the government and its allies working together to “sabotage” local brands and companies.
“The survey showed that Indian companies were very willing to use fictitious names and to protect the brands they own from the threats of counterfeiters,” said Dr. Prashant Sharma, a textile industry expert at the Institute of Modern Studies, Delhi.
“This is the same strategy that was being adopted by other countries in the past,” Sharma said.
In India, counterfeiters are targeting local textile companies and their employees.
“In India, the textile sector is very lucrative, so the threat of counterfeiting is extremely low,” Sharma added.
India has a huge textile industry, which produces over 40% of the world’s cotton and 40% cotton-related products.
India is also one of the top 10 countries in terms of textile exports.
However, India is facing a global crisis in the textile industry.
Last year, India exported $1.3 billion worth of cotton to the United Kingdom and about $500 million worth to China.
The textile industry in India is now a highly competitive one.
In January, the Indian government announced an excise tax on fake textiles.
The new tax will be levied on any item that is manufactured or imported in India and that does “not contain genuine material”, such as fabric, cloth, textile paper, leather, plastic, rubber, wood, metal, ceramics, metals, paper, paperboard, paper towels and paper goods, the government said in a statement.
This tax will cost textile manufacturers up to ₹500 crore.
India’s textile industry is also in dire straits.
The number of factories has shrunk from about 2,500 in 2000 to about 700 today.
According to the latest official figures, India had 1,064 mills in March, down from 1,876 in February, and nearly 1,200 in January.
The drop in output was due to several factors, including a slowdown in domestic textile production, which has been affected by the global economic slowdown, according the Ministry of Commerce.
The Indian textile industry has also suffered from the country’s current high inflation rate of ₂2,700 per rupee, which is far above the ₱2,200 rate that most countries have to pay for basic commodities such as rice and pulses.