Just wondering, are these kinds of practices allowed in EU?
It's a general trend worldwide, but yes. There aren't price protections outside of India, in fact I've always thought that the entire 'MRP' is something unique to India and the socialist republic that we decided for ourselves because of our population density and relatively young age as an newly-independent country. It was meant to help India regain her identity and prevent foreign investment from establishing influence within our economy (we all had ptsd from british rule) and it did serve that purpose but this decision ultimately hindered India's growth and recognition.
So we've been trying to attract foreign investment the last couple of decades but since we missed the prime window (80s, 90s), it'll take another couple of decades to actually bear fruit. Places like Japan and South Korea have had their economy invaded and taken over by western influence to the point where today they're world leaders in technological advancements but at the cost of their actual identity, which has been relegated to the rural areas and the older generation.
This socialist mentality is prevalent everywhere in India, even here in this forum where people who attempt to ask more than what they paid for are then publicly called out and shamed. I've never seen this anywhere else. Sure, people look down on scalpers in the west but they've accepted that sooner or later, anything and everything would be scalped. From GPU's to sports shoes. Supply and demand is a capitalist ideal that's ingrained within western culture. Can't afford it? Use credit, or work more hours.
Here in India, there are news reports of people arrested for selling 'illegal' sanitizers which are destroyed when there was nothing nefarious about the product, only the method of sale (without license, without bill). This is an entirely foreign concept in the west. In fact old laws had to be reinstated to prevent scalpers from hoarding essential medical goods during the early months of the pandemic last year:
March 18th, 2020:
https://www.npr.org/2020/03/18/8180...defense-production-act-for-coronavirus-shorta
March 23rd, 2020:
https://thehill.com/homenews/admini...ive-order-to-prevent-price-gouging-of-medical
March 26th, 2020:
https://www.justice.gov/usao-sdny/p...and-price-gouging-n95-masks-violation-defense
What this man did was completely legal in that part of the world, until it was not. And one day that law will be put away again, and it'll be legal again to do what this man did.
Just wondering, are these kinds of practices allowed in EU?
Prices for components in the UK/EU have always been significantly higher compared to US/Canada so they're less sensitive about prices increases over there. But once you do get the product, there are some pretty amazing consumer protections in place. Which is probably why the prices are higher there to begin with.
Currently, the lowest prices for components are in Canada.