Consumerism can be defined as the right of the customer to get the
information he
wants. After Independence India did not tread upon the capitalistic
path. The pursuit
of materialistic satisfaction in India did not catch on as it did in
the West. However
the 90’s witnessed a major change with the Indian economy ‘opening up’. So after
10 years of LPG how has the consumerism affected India is the topic of
discussion
today.

1. The rate of growth of income in India has gone up to 6.7%
2. India’s Consumer Protection Act is unparalleled in the South Asian region. If
properly implemented it will prove to be a big asset.
3. Previously the Indian population was usually divided as - Poor, Lower Middle
Class, Upper Middle Class and then the Elite Class. Now due to LPG and
the resulting
consumerism the Lower Middle Class and the Upper Middle Class can be joined to
form the ‘Growing Class’. The salaried rich now have the annual income
of Rs. 2.15
lakhs and above.
4. The Indian Middle Class has grown from 435 million in 1994 to about
600 million
in2001. Thus the purchasing power of certain sections of Indian population has
improved.
5. Consumerism offers the consumer with the chance of getting a better
product at a
competitive price. It is in the interest of the consumer.
6. Due to increased competition the quality of goods and services has
drastically
improved in India especially in certain areas.
7. Consumer in urban India has become better informed. Thus the chances of him
being cheated by the seller have diminished.