PIRATED PRODUCT MARKET – BECOMING HUGEAccording to a study conducted by the Business Action to Stop Counterfeitingand Pira...
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Pirated product market

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Pirated product market

  1. 1. PIRATED PRODUCT MARKET – BECOMING HUGEAccording to a study conducted by the Business Action to Stop Counterfeitingand Piracy (BASCAP), the pirated product market would touch $1.78 trillionmark by 2015. This menace will severely hurt world’s major economies. Thetotal worth of pirated and counterfeited products is likely to increase from$455-650 billion in 2008 to around $1.22-1.77 trillion in 2015. Estimates suggest that 65% of software used in India is pirated. Every year600 million pirated movie DVDs are sold in India against just 20 million originalones and every year there is loss of around $1 trillion. Many G20 countries are losing foreign direct investment (FDI) due to issuesover intellectual property rights enforcement which could give rise to taxlosses of more than $6.25 billion across the G20 countries. Loss that G20 countries are facing due to this menace is • $77.5 billion loss in tax revenues • $24 billion increased costs related to the crime • $18.1 billion on the economic cost of deaths resulting from product counterfeiting Revenue loss that companies will face on account of piracy of digital productsis expected to amount to $80-240 billion by 2015. Piracy is causing us huge loss. It’s a cost that we are incurring for which wewill not get any benefit, this EVIL must be eliminated.

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