GLOBALIZATION, MARKET AND CONSUMER PROTECTION
“Consumer Protection” refers to protect the consumer from various business malpractices. The main aspect of such Law is to eliminate the exploitation in order to curb unfair trade practices in society. In Today’s, diversified economy, the better organized business sectors enjoy the most powerful position, wherein it becomes easy for such commercial agencies to exploit the consumers. The worst affected victims of business tactics are the consumers and hence they need to be protected through consumer protection laws.
No matter what laws we have in our country but when it comes to its implementation and applicability, awareness in the society is the prime area responsible to its success. Today, growing globalized markets in world economy has developed a high sense to pinpoint the structured laws in the development of consumer protection. Despite of Modern technological advancements that have largely impacted on the quality, viability and safety of goods and services, the fact reveals that the consumers are yet victims of unscrupulous and exploitative practices.
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