In a volatile world economic scenario, we have been witnessing an increasing number of cases of mal-practices being filed against large, reputed corporate houses with increasing number of consumers and investors finding themselves to be hapless. Society for Consumers’ and Investors’ Protection (SCIP) understands that it is imperative to keep the Investor and Consumer population in good humor. An economy functions on demand and supply forces. The demand factor is catered to by the Consumer population. If the consumer is dissatisfied with the goods and services available in an economy, demand for the same is bound to decline resulting in decreasing trade levels that may possibly culminate into decreased level of activity in an economy.
SCIP recognizes that systematic and healthy growth of any market rests on its two key pillars – consumers’ wants and consumer credit or available resources. Consumer wants and desires are different from what she needs and demands that in turn is prompted by dissemination of knowledge about products and services in an unbiased manner without concealing anything. Subsequently, the consumer requires adequate funds to supplement her wants and desires which results in her desires and needs getting converted into demand giving way to the need for increased production of goods and services and in turn requiring more capital investment and giving direct boost to the financial services sector in an economy. On the other, Investors need to be taken care of because they provide funds when there is genuine dearth of investible capital, which is essential for capital formation in an economy much needed to achieve the desired rate of growth and well being of the people. With this understanding, SCIP endeavors to provide a common platform to the perceived opposite parties – Consumers/Investors on the one side and Producers/Manufacturers/Suppliers/ Sellers/Providers of goods and services/ Corporations/Intermediaries, etc. on the other – to assimilate and complement their interests to achieve the best results for all. It aims for wealth maximization with least risk for investors and maximize satisfaction for consumers by facilitating provision of quality goods and services at affordable prices giving more importance to considerations such as health, safety, transparency, and so on. SCIP therefore seeks to bring all the parties together in comprehensive and progressive dialogue to find ways and means to achieve the maximum good for all. It believes that an atmosphere of suspicion and underlying hostility between the market players benefits none. Improving confidence amongst all parties so that the economy can take advantage of their co-operation is the purpose behind its establishment.
SCIP envisions a market environment which is both cordial and competitive, where investor confidence is at its peak, business is consumer oriented and communication channels between all parties are genuine and open, without any suspicion or mal-intent on part of any member of the market.
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