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NEW DELHI: Prime Minister Narendra Modi on Thursday stressed that “consumer protection” was in line with the government’s resolve of building a ‘New India.’
“The government prioritising consumer protection is in line with our resolve of New India, we’ll change it to consumer prosperity on the way ahead,” said PM Modi at the International Conference on Consumer Protection for East, South & South-East Countries in New Delhi.
He added that a new consumer protection act was in the making, which would lay out stricter guidelines on advertisements, to ensure people are not misled.
In his address at the conference, which saw participation from 24 countries, the PM credited the new Goods and Services tax (GST) regime, for giving the country “a new business culture.”
He assured the people that poor and middle class consumers will be the biggest winners as a result of the reform.
“GST will boost competition between companies, which will decrease prices of goods, in turn benefiting poor & middle class consumers,” he said.
“In any business consumer satisfaction is of utmost importance.”
Modi praised his government for ensuring “inflation was kept in check and the consumer saves money.”
The PM harked back to the Vedas, saying that the “Atharv Veda talks about fair trade practices.”
(With inputs from agencies)