Consumer Protection And Consumerism Of India Essay

CONSUMER PROTECTION AND CONSUMERISM Jitender Rubee Devi M.COM,M.A(ECONOMIC) ,PGDJMC M.COM ABSTRACT consumerism in India is as old as trade and commerce. In Kautilya’s Arthshastra there are references to the concept of consumer protection against exploitation such as through the manipulation of weights and measures and adulteration. But the process of development with increasing liberalisation and globalization across the country has enabled consumers to realize their increasingly important role in society and governance. Today the consumer is not only the heart of marketing but also the controller of marketing functions. However, concentration of the market power in the hands of a select few has affected consumers’ behavior over the time. In a developing country like India where the incidence of poverty and unemployment is very high and the level of literacy is very low, the people face a volume of problems, particularly in the context of consumer related issues. Unlike in the developed world, consumers in these countries have not been able to play a greate r role in the development process. The Consumer Protection Act, 1986, is one of the examples that is to be treated as a milestone in the history of socio-economic legislation to protect the interests of the consumers in India. In this paper an analysis has been to explore the consumer protection and consumerism in India. KEYWORDS: Consumer Protection, Consumerism,Show MoreRelatedâ€Å"Marketing, Consumerism, Materialism and Ethics: the Modern Marketing Conundrum†4276 Words   |  18 PagesINTRODUCTION Gone are the days when â€Å"buyer beware† was the trend. The sellers used to dictate their terms as the competition was less. But after the Liberalization, Globalizations and Privatization in 1991, more companies entered into India. This changed the situation form â€Å"Buyer’s beware† to â€Å"Sellers beware†. It became more difficult for the companies to sustain in the cut throat competition. 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