New Age Challenges in Consumer Protection in India

Abstract

With the business landscape undergoing significant changes in the last decade, need for an evolved consumer protection framework is being felt across sectors and nations. This is largely due to emergence of digital economy, technological advancements relating to how transactions are carried out and growing complexity of goods and services.

Consumer protection frameworks need to be in line with these changes in business environment. This paper studies the emerging trends which have a bearing on the interests of consumers in the marketplace.

The paper further explores the new challenges being faced in the Indian market with a special focus on protection of the consumers in financial services, e-commerce and of vulnerable groups. It needs to be ensured that consumers are not subject to unfair and deceptive practices, have access to relevant and comparable information, have recourse mechanisms available to resolve disputes, and privacy of their personal information is maintained.