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The Authentication Solution Providers' Association (ASPA) has stated that authentication and traceability solution for Indian pharma is its five-year strategy to stall counterfeits. The Association in its five-year strategy from 2022-2027 is gearing up to become a global industry voice in the authentication and traceability solutions.
Aggressive steps are taken by the Indian pharma with the Union government directing 300 top brands to introduce QR Codes on their packaging, in addition to making QR Codes mandatory on APIs (active pharmaceutical ingredients).
The return on investment on authentication solutions is much more significant, and the other countries' positive impact of using the anti-counterfeit solutions is proven. We are confident that India, too, will adopt it. We are seeing steps taken towards tackling counterfeiting, especially in the pharmaceutical sector. But these are small steps while the problem is complex. A strategic all-around plan and action are required to curb the massive menace of counterfeiting in the country with both authentication solutions and robust track and trace infrastructure in place, said Nakul Pasricha, president, ASPA.
Further, India also needs to nurture positive consumer behavior, good brand practices, knowledge sharing in enforcement and sensitization in regulatory bodies to make a considerable dent in illicit trade, he added.
The six objectives of the ASPA Strategic Plan 2022-2027 outlines research and development, increasing the awareness of Authentication and Traceability solutions (ATS), develop tools to measure the impact of counterfeiting and its scale, encourage professional ethics and best practices to enhance the global reach and footprint.
It urged the usage of authentication and traceability technologies as an essential tool for socio-economic empowerment in India's fight against counterfeiting, which is eroding Rs. 1 trillion in the Indian economy.
As we celebrate 75th Independence Day as “Azadi ka Amrit Mahotsav”, the country is reinventing itself and getting future ready. The transformation will not be complete until the government addresses the menace of counterfeiting and falsified products which has been a constant threat to the economy, the brand equity of India. The Indian Authentication and Traceability Industry is capacitated to provide customized fortification for varied industries against counterfeiting, said Pasricha.
As we move forward in the technology-enabled era, it is time that the country also employs intelligent technology to solve the problems of counterfeiting. The circulation of substandard and falsified products attacks us on multiple levels is hampering brand profits, obstructing government revenues, robbing consumer faith and damaging brand India in the global market.
Now ASPA has been India’s leading voice against counterfeiting and illicit trade. As per our plan for the next 5 years, we aim to become the voice of the global authentication and traceability solutions industry. We have set out on a mission to drive the development, promotion, and adoption of authentication and traceability solutions as effective tools to curb counterfeiting and illicit trade, stated Pasricha.
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