Illegal cigarette seizures jump 9x to Rs 1,772 cr in 11 months of FY21
CBIC and DGRI data show illicit cigarette seizures surged to Rs 1,772 crore in the first 11 months of FY21, up from Rs 187 crore in all of FY20. High taxes on legal cigarettes are shrinking ITC's legitimate market share as smuggling from China, Malaysia and Dubai accelerates.
Illegal cigarette seizures in India jumped 9x to Rs 1,772 crore in 11 months of FY21 from Rs 187 crore in FY20, as higher taxes on legal cigarettes shrink legitimate market share and fuel smuggling from China, Malaysia, Dubai.