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‘Consumer is sovereign’ and ‘customer is the king’ are nothing more than myths in the present scenario particularly in the developing societies.
However, it has been realized and rightly so that the Consumer protection is a socio- economic programme to be pursued by the government as well as the business as the satisfaction of the consumers is in the interest of both.
It is now impossible for the buyer to examine the goods before hand and most of the transactions are concluded by correspondence.
A new investment guideline from the OECD spells out principles to be applied by multinational corporations dealing with consumers.
According to Mc Millan Dictionary (1985) “Consumerism is concerned with protecting consumers from all organizations with which there is exchanged relationship.
It encompasses the set of activities of government, business, independent organizations and concerned consumers that are designed to protect the rights of consumers”.
As a result buyer is being misled, duped and deceived day in and day out. Congress to accord its approval to the Consumer Bill of Rights. In India we have recently started celebrating 24th December every year as the National Consumer Rights Day.
Mahatma Gandhi, the father of nation, attached great importance to what he described as the “poor consumer”, who according to him should be the principal beneficiary of the consumer movement. They are: (i) right to choice (ii) right to information (iii) Right to safety and (iv) Right to be heard. In the history of the development of consumer policy, April 9, 1985 is a very significant date for it was on that day that the General Assembly of the United Nations adopted a set of general guidelines for consumer protection and the Secretary General of the United Nations was authorised to persuade member countries to adopt these guidelines through policy changes or law.