Delhi Alone Loses Rs.5 Billion Annually to Piracy
Date: Wednesday , December 31, 2008
Increasing sales of pirated CDs, DVDs, and other software is costing manufacturers in the national capital around Rs.5 billion annually.
A report by the Associated Chambers of Commerce and Industry of India (Assocham) says that sales of pirated products is also leading to an annual revenue loss of about Rs. 1.5 billion (Rs. 150 crore) for the states of Delhi, Uttar Pradesh, and Haryana.
It is estimated that the Indian entertainment industry loses over Rs. 160 billion (Rs.16,000 crore) annually because of counterfeiting and piracy.
"Genuine manufacturers in the entertainment segment such as T-Series, Music Today, HMV, Saregama, MG Traders, Morgan, and Gnomon Astrotech have brought to the notice of Assocham the increasing incidences of piracy of their products, which have already caused them a market share loss of over 30 percent in the last five years," says Assocham secretary general DS Rawat. According to the chamber, piracy could hurt the revenue generation of original manufacturers in Delhi and its neighboring region to the extent of over Rs. 15 billion in the next five to seven years as the purchasers of pirated products, in the age group of 18-25 years, was growing at a significant pace.