The Central government is expected to have lost as much as 58,521 crore in taxes in the year 2019 -- 20 due to the illegal trade in goods in 5 key industries. Ficci report titled 'Illicit Markets: A Threat to Our National Interests' by FICCI's Committee on Smuggling and Counterfeiting Activities Destroying the Economy has identified FMCG mobile, tobacco products and alcohol as the most affected industries, with the size of illicit markets in these industries at a little over Rs 2.60 lakh crore for the year 2019 -- 20. The FMCG industry alone accounted for 75% of the total illicit value of goods in five key industries. Tobacco products and alcoholic beverages - two highly regulated industries, account for nearly 49% of the total tax loss in these industries. The report said that the multiplier is higher the effect it has on the economy. Packaged foods, which are household and personal goods, make up over 1.97 lakh crore of the total illicit market size of Rs 2.60 lakh crore. This is followed by alcoholic beverages at Rs 23,466 crore, tobacco products Rs 22,930 crore and mobile phones Rs 15,884 crore. The report also highlights the threat of illicit markets in India, addressing the demand and supply gap, reducing tax arbitrage, creation of a conducive environment for innovation, and better international coordination and cooperation are some of the ways forwards. It said that a concerted effort from government, industry, consumers, and international bodies is needed to achieve the challenging and mammoth task of reducing illicit markets.