Priyanka Solanki & Akshit Kapur
A decade after the economic reforms process, today the Indian market is profoundly dominated by “consumerism”; a social movement seeking to augment the rights and powers of buyers in relation to sellers. From a predominantly sellers’ market it is being circumspectly transformed into buyers’ market where the exercised choice by the consumers depends upon their awareness echelons. Every citizen of the country is a consumer in one way or the other and thus ensuring consumer welfare is the paramount responsibility of the government. In a competitive economy the consumer rights could be protected only when the right standards for goods and services are secured by evolving a network of legal protection systems and institutions. The forthcoming article attempts an analytical, synthetic and critical analysis of the evolving trends in the consumer Laws by reflecting upon the major developments in the field of consumer protection in India since 1984, when for the first time the statutory provisions for regulating unfair trade practices were consolidated in the statute book. It highlights the strengthening of provisions for consumer protection through amendments to the Act which have regulated the restrictive and monopolistic trade practices (the MRTP Act) and also surveys the major developments in the recent years which shall be considered as milestones in the history of consumer protection in India.