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Dr. D. Y. Patil B-School

The Illegal Market of the Red Economy

The Illegal Market of the Red Economy

Study about one of the illegal economies - Red Economy means Illegal blood market.

Prof. Suman Deokota
July, 14 2021
25

The red economy is the blood, which is one the purest assets of humankind, now, is not pure! It’s a part of black and illegal markets.

There is a Blood short (chronic) supply in India due to illegal markets of blood, according to the World Health Organization (WHO), which stipulates that every country needs at least a 1% reserved for its future needs.

India, with its population of 1.2 billion people, needs 12 million units of blood annually but collects only 9 million, which is a deficit of 25%. In crises like dengue, the shortfall often hits 50%, why there is still a shortage?

You must have seen a lot of your friends and family members donating blood, but there is still an acute shortage of blood in blood banks and hospitals. Black market transactions, poor storage facilities, and the blood deficit are whopping high.

Telling the victims of this red illegal market who were lured to a house on the pretext of being given jobs and were then convinced to sell their blood for the princely sum of 476 Rupees per unit.

People go to the extent of not accepting blood if the blood comes from a low caste, this makes donation more difficult and when an emergency for genuine cases arises, illegal blood supply starts the illegal blood industry.

The illegal blood industry is a 300-crore rupee industry and is in operation. Imagine if that much blood got to people at the right time, how many lives would be saved? How much money would be saved?

To top it off, blood smugglers use wastewater to dilute blood and increase the quantity of saline water they use. The Red Economy is at its menace.

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