₹58,521 cr lost due to illicit trade in 5 key industries including FMCG: Report

According to a FICCI report, the government suffered a tax loss of ₹58,521 crore in 2019-20 due to illicit trade in goods in five key industries, including FMCG, mobile phones, tobacco products and alcohol. The illicit market across industries was valued at ₹2.60 trillion. Tobacco products and alcoholic beverages accounted for nearly 49% of the overall accounted loss.