The ₹1 Trillion Illusion: IP Enforcement, FOMO, And India's Counterfeit Empire: A Multidimensional Analysis Of India's Counterfeit Crisis
- IJLLR Journal
- Mar 2
- 1 min read
Prashasti Bhatnagar, LLM (IPL), Christ University, Bangalore
ABSTRACT
The fear of missing out (FOMO) together with buying counterfeit goods and the enforcement of intellectual property (IP) laws in India is an area that requires thorough investigation. The present paper attempts to explain the extent to which FOMO, a psychological sensation which is heightened through the use of social media and e-commerce platforms, determines consumers' decision to buy counterfeit products. In this respect, it accounts for both markets in the streets and online stores.
After an in, depth study of the Indian IP legal system, the identification of the most popular counterfeit markets, and scrutinizing e-commerce platforms like Nykaa and Amazon, the paper reveals how the combination of elements such as psychological pressure, low prices, and limited, time offers can be exploited to generate urgency and thus increase the sale of counterfeit products. Besides, the study identifies the key vulnerabilities of the current IP enforcement system, describes how the growth of digital commerce has facilitated the spread of counterfeit products, and recommends feasible policy measures that can be taken to not only strengthen the anti, counterfeiting system in India but also to deal with the psychological factors that lead consumers to buy counterfeit products.
Keywords: FOMO, Intellectual Property, Counterfeit, E-commerce, India
