Stating that the challenge of illicit trade looms larger than before, Central Board of Indirect Taxes and Customs (CBIC) chief Sanjay Kumar Agarwal Thursday said tackling issues such as counterfeit products, smuggling and tax evasion is fundamental to safeguarding India’s economic stability.
At the release of a report by industry body FICCI — ‘Hidden Streams: Linkages Between Illicit Markets, Financial Flows, Organised Crime and Terrorism’ — Agarwal said these issues have “profound socioeconomic implications and undermine national security”.
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