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 The Authentication Solution Providers' Association (ASPA)-CRISIL, report revealed counterfeit medicines account for around 28% of the market. The report was released at TAF Connect 2026, India's authentication and brand protection industry conclave in Mumbai recently.
The findings of the report call for the urgent need towards stronger authentication and traceability mechanisms, improved regulatory enforcement, and greater industry collaboration to combat the growing threat of counterfeiting. Technologies such as secure packaging, serialization, track-and-trace systems, digital authentication, and consumer verification solutions are increasingly being adopted globally to safeguard supply chains and protect consumers.
The report also highlighted widespread exposure to counterfeit products among urban consumers. Local retail outlets remain dominant for pharmaceuticals at 63% followed by agro-products at 75%. The study highlights the growing role of digital commerce in the distribution of counterfeit products. Online aggregator platforms account for 53% of counterfeit purchases, making them the largest channel.
The nationwide study, based on a consumer survey of 1,639 respondents across nine major Indian cities of Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Jaipur and Indore, also highlighted the growing scale, changing channels, and increasing consumer awareness regarding counterfeit products across multiple industries.
The report covered key sectors including pharmaceuticals, providing one of the most comprehensive insights into India’s counterfeiting ecosystem.
Despite widespread exposure, consumer attitudes toward counterfeits are gradually shifting. Counterfeit products are perceived to be around 22% cheaper than genuine goods. However, only 36% of consumers cite price as the primary reason for purchasing counterfeit products. Consumers are willing to pay an average 9% premium for guaranteed genuine products, with higher willingness in pharmaceuticals at 12% and agro-products at 14%.
In addition, 50% of consumers say they would file a complaint if they received a counterfeit product, reflecting rising consumer awareness and intolerance toward fake goods.
Speaking at the event Ankit Gupta, president, ASPA, highlighted, “Counterfeiting is a global menace that adversely affects the economy of almost every country. Not only are counterfeit goods a risk to consumers' health and well-being, but they also distort market competition, damage legitimate producers and cause tax revenue losses for governments. In India, counterfeiting incidents have increased over the past three years, with counterfeiters becoming increasingly sophisticated and better funded. The growth of e-commerce and globalisation of markets has made the fight against counterfeiting even more challenging. At ASPA, we believe that by bringing this issue to industry and government forums, we contribute meaningfully to this fight. This report is part of our initiative to build awareness of the economic and societal impact of counterfeiting — what many call the crime of the 21st century.”
Highlighting the key points from the report Anjali Nathwani, director, Crisil Intelligence, said, “An important finding from the survey is that 74% of consumers believe the incidence of counterfeiting has increased in the last 12 months. Another intriguing finding is that 93% of consumers think more awareness campaigns are needed, even though two-thirds feel confident about identifying a counterfeit product. This gap between awareness and action points to the need for concerted effort from the government, manufacturers, distributors, retailers and consumers working together to combat counterfeiting.”
ASPA is the world’s first self-regulated non-profit organization representing the entire spectrum of physical and digital authentication and traceability solutions globally. Founded in 1998, ASPA works to raise awareness about the importance of these solutions for brand, document, revenue protection, and consumer empowerment. The organisation strives to educate stakeholders, including government authorities, brand owners, industry professionals, and consumers, on how combining technology solutions ensures various products' authenticity. ASPA also aims to inform companies how adopting physical and digital authentication and traceability solutions can facilitate brand protection and reduce revenue loss.
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