Content area
Full text
Abstract
Today, the Indian consumers are more empowered than ever before. The rising competition, pricing war, huge product assortments, entry of many national and international players etc have provided the consumer with a lot of options to choose from various products and services. Consumerism is a social and economic order that is based on the systematic creation and fostering of desire to purchase goods and services in ever greater amount.
Consumerism is likely to dominate the Indian market in the next millennium, thanks to the economic reforms ushered in the several agreements signed under the world trade organization. Transition will be from a predominantly "Seller Market" to a "Buyer Market" where the choice exercised by the consumer will be influenced by the level of consumer awareness achieved.
Protection to the consumers can be afforded in various ways i.e. statutory regulations under Consumer Protection Act, Sale of Goods Act and Self Regulation etc. Advertising Agencies Association of India also has laid down standards of practice for advertising agencies, regulating advertising business & profession.
Keywords: Consumer Protection, Consumer Empowerment.
Introduction
"Today, the Indian consumers are more empowered than ever before. The rising competition, pricing war, huge product assortments, entry of many national and international players etc have provided the consumer with a lot of options to choose from various products and services. Consumer protection consists of laws and organizations designed to ensure the rights of consumers as well as fair trade competition and the free flow of truthful information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors and may provide additional protection for the weak and those unable to take care of themselves.
Consumerism
Consumerism is a movement which advocates greater protection of the interest of consumers. Consumerism is a social and economic order that is based on the systematic creation and fostering of desire to purchase goods and services in ever greater amount. In Indian legal framework the Consumer Protection Act, 1986 defines 'consumer' as one who purchases goods or services for his use or the user of such goods and services with the permission of the buyer. However, a person is not a consumer if he buys...