Fair & Lovely is a product which can be mildly effective, because it is used externally for the beautification purpose. If someone did not use it then that person will not die, as it is not a lifesaving product. It is used to have brighter skin which can be an advantage to someone or can be a desire to someone. There are not any laws that only the lifesaving of most effective product are ethical to sell. Products have various purpose of use. So if someone wants to sell a product which is mildly effective then that should not be recognized as unethical. People are free to do different business. Only because of mildly effective make a business unethical is totally injustice to that business.