Informal Market in Urban Setting in India: A Sociological Review

Abstract

The formal and the informal market are two significant parts of the economy in India. However, the portion of the informal sector is more when contrasted with the formal one. The informal share of market, which eventually bolsters the conventional economy, is expanding step by step. These informal Markets give a special topic of sociological examination with regards to the informal economy. This paper intends to sociologically contextualize street vendors and weekly markets in the triangle shaped by the urban space, informal economy and state, and see how informal ness is conjured in formal metropolitan circle. This examination through different past investigations attempted to comprehend vendors profile of these market and their conduct with shoppers and among themselves. This paper investigates the profile of consumer and their conduct in urban weekly market. The conduct that the consumers show in looking for, buying, utilizing, assessing and discarding items and services that they expect will fulfil their necessities. Consumer behaviour is impacted by different components like individual, ecological and dynamic. This examination utilizes distinctive other recently distributed attempts to comprehend the idea of weekly market. Further this article also brings into light various problems faced by these informal markets and also talks about policies and legislation brought by government for their betterment.