New Delhi, 2nd of October 2024: The global counterfeit economy poses a severe challenge to industries worldwide, threatening innovation, eroding consumer confidence, and stifling economic growth. In response to this escalating issue, the Reinforce Intellectual Property Association (RIPA), in association with the International Hologram Manufacturers Association (IHMA), IP Bazzaar, Academia and Industry Stakeholders, organised the event titled “Handling the Counterfeit Economy” at the National Productivity Council in New Delhi.
This initiative brought together leading industry experts, academic professionals, and key stakeholders to foster collaboration and bridge the gap between academic research and practical industry solutions. The event underscored the critical role that advanced research and innovative technologies play in addressing the counterfeit crisis, which threatens India’s economic stability and the competitiveness of its domestic industries.
On the occasion, Mr. Naveen Coomar, President of RIPA, said “We stressed the urgent need to bridge the gap between academic research and practical industry solutions. India’s current reliance on limited anti-counterfeit technologies has slowed the pace of innovation. This event highlights the critical need for intensified R&D efforts from academia and industry. By promoting collaboration and knowledge exchange, we aim to accelerate the development of indigenous technologies that can effectively combat counterfeiting”.
Key Focus Areas: Bridging Knowledge and Advancing Technology
A pivotal moment of the event was a panel discussion titled “Bridging Knowledge: Collaborative Dialogue for Handling the Counterfeit Economy.” The discussion focused on promoting R&D activities, identifying specific problem areas within various industries, and encouraging industry-academia partnerships to foster innovative anti-counterfeit tools. The discussions underscored the urgency of creating homegrown solutions to counter the counterfeit crisis while enhancing India’s competitiveness in global markets.
Prof. Jitendra K. Das, Director General, FORE School of Management, moderated the event with panellists including Shri Ajai Kumar Srivastav, Ex-Director (Technical), SPMCIL, Mr. Pramod Gokhale, Group CIO, Mankind Pharma, Dr Amit K. Dinda, Research Director, Amrita Vishwa Vidyapeetham, Prof. Tanweer Alam, Additional Director, Indian Institute of Packaging, Chandar S Jeena, Regional Director, Reconnaissance International, and Naveen Coomar, President, RIPA.
At the occasion, Ajai Kumar Srivastav, Former Director (Technical), SPMCIL, highlighted that the counterfeit economy survives, classified into currency, products, ID Documents, Patent infringement, and many more, despite having a legal framework in place and multiple departments to cater to this, provided communication with these able departments is established and continued from all stakeholders.
Chander S Jeena, Regional Director, Reconnaissance International, said, ‘Reconnaissance and IHMA are proud to support such initiatives, which mark a significant milestone in India’s ongoing fight against counterfeiting. Ongoing research and innovation are essential to staying ahead of counterfeiters, and this effort requires the active engagement of all stakeholders. India has the potential to lead this battle by fostering collaboration between academia and industry to develop cutting-edge solutions. Building a robust authentication ecosystem depends on seamless cooperation, and events like this act as crucial bridges, bringing key players together.
They also discussed key trends in the counterfeit landscape, the necessity of technological evolution, and how cutting-edge solutions such as Optical Variable Devices (OVDs), NFC, RFID, Blockchain, IoT, and AI can be adapted to the Indian market.
Global Collaboration and Future Opportunities
The event further explored avenues for technology transfer and collaborations with global companies, allowing India to strengthen its capabilities in fighting the counterfeit economy. By encouraging international partnerships, the event set the stage for India to integrate global best practices with indigenous innovations, ensuring a comprehensive approach to fight counterfeiting.
Key Participants and Stakeholders
The event featured distinguished speakers and delegates from leading academic and industry institutions, including IIT-BHU, IIT-Madras, IIT-Bhilai, Amrita Research Centre, Delhi (Amrita Vishwa Vidyapeetham), Mankind Pharmaceuticals, Manipal Technologies, Track Pack Innovation, AIDC Solutions and Research Foundation, along with participants from the Food Safety and Standards Authority of India and others.
About RIPA
The Reinforce Intellectual Property Association (RIPA) is a not-for-profit organisation that promotes and facilitates indigenous intellectual property (IP) at national and international levels. RIPA bridges the gap between research and industry, fostering innovation and advancing IP development for sustainable economic growth.
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