Business Ethics and Corporate Governance, Second Edition

QUALITY STANDARDS

One of the major grievances of Indian consumers is the poor quality of products they buy and pay for. In India, over the past five decades, the quality of products has been extremely poor because of monopolistic and imperfect competitive market situations under the mixed economy regime. Even public sector organizations never bothered to produce quality goods because of their monopolistic position and complacence due to lack of competition. As a result, the Indian consumer has to do with shabby and shoddy goods and equally poor and inefficient services. The situation seems to be improving since 1991 because of intense competition, but even then, the country has a long way to go to catch up with the Western societies in the matter ...