An Empowered Consumer is an Asset to the Nation
Dr. H. R. Keshavamurthy* 24th December is observed as “National Consumer Rights Day” in India, since on this day the Consumer Protection Act, 1986 was enacted. The Consumer Protection Act provides for effective safeguards to consumers against various types of exploitations and unfair dealings, relying mainly on compensatory rather than a disciplinary or preventive approach. With a large consumer base of 1.27 billion ( 52% males and 48% females) constituting nearly 17.31% of the world’s population, the demography of Indian consumer shows an interesting pattern pointing towards a young consumer base which believes in market mechanism. 30 % of the population lives in urban areas and the rest in rural. The diversity itself is a major challenge for any consumer protection regime. The Constitution of India provides for protection of rights of an individual and also enjoins the State to adhere to the Directive Principles. The...