The survey by Paris-based International Chamber of Commerce, a world business body, along with London's Cass Business School ranked China and Russia as the two worst-performing countries in tackling piracy, followed by India, Brazil, Indonesia, Vietnam, Taiwan and Pakistan respectively.
"We are particularly concerned about the risks for consumers from unsafe counterfeit products," said Peter Brabeck-Letmathe, chairman and CEO of Nestle, in a statement released by ICC on Monday.
Business leaders called on governments to do more to fight piracy, rating enforcement of laws as the best option in fighting the scourge, which "drain billions annually from the 'virtuous circle' of economic growth," the statement said.
"We need to educate policymakers that greater investment in IP (intellectual property) enforcement will translate into more jobs and tax revenues, and also help them in the fight against organised crime," said ICC Secretary General Guy Sebban.
"We urge the assistance of governments to curb the proliferation of counterfeit products," said Brabeck-Letmathe. Respondents rated the US as the top performer in protecting intellectual property, followed by UK, Germany and France.
Sebban said respondent companies spent over half of their research and development money in technologies to thwart piracy.