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India: Piracy costs CD/DVD makers over $100m a year
Increasing sales of pirated CDs, DVDs and other software in India has led to manufacturers in Delhi to lose around Rs 5 billion ($103m) annually, said a report by an industry lobby released last week.
According to the Associated Chambers of Commerce and Industry of India (Assocham), pirated sales of these products is also leading to an annual revenue collection loss of about Rs 1.5 billion ($31m) for the states of Delhi, Uttar Pradesh and Haryana.
It estimated that the Indian entertainment industry as a whole loses over Rs 160 billion ($3.3bn) annually because of counterfeiting and piracy.
“Genuine manufacturers in the entertainment segment such as T-Series, Music Today, HMV, Saregama, MG Traders, Morgan, Gnomon Astrotech have brought to the notice of Assocham the increasing piracy on their products which have already caused them a market share loss of over 30 percent in the last five years,” Assocham secretary general D.S. Rawat said in a statement.
Story filed 05.01.09
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