By Naveen Kumar Kumar and Ashish BhagatPublished: 08.05.201417:0718What’s in name?
A new term used to describe an item which is a part of a package of goods which, by law, is to be sold as a single package, usually at the same price and in the same format.
This is a new concept that was adopted by the government of India to regulate the sale of goods in the country, following the global trend to market branded goods as ‘local’ and ‘local only’.
It is an effort to make the country more competitive and competitive in the global market, said an official at the Department of Commerce, Industry and Trade.
This policy aims at creating a more competitive environment for the country.