Dr. Syama Prasad Mookerjee Research Foundation

Salient Points of PM Modi’s address at International Conference on Consumer Protection on 26 Oct, 2017

First of all, I congratulate all of you for this Regional Conference on an important subject like Consumer Protection. This programme is being attended by representatives from South Asia, Southeast Asia and all the East Asian countries. I welcome all of you to this programme.

This event is the first of its kind in South Asia. I would also like to express gratitude to UNCTAD for having supported India’s initiative and playing an active role in bringing it to this stage.

Friends, in today’s modern era our traditional relationship has attained a new dimension.

The Asian countries are not only catering to the goods and services markets in their own country but their reach has expanded to other continents as well.

In such a scenario, Consumer Protection is an important component which enhances and strengthens trade in this region.

This conference is important because it seeks to discuss how we understand and try to fulfil the aspirations of the consumers

In our vision for a new India, we want to move ahead from only consumer protection towards best consumer practices and consumer prosperity.

The focus is on consumer empowerment and ensuring consumer faces no difficulties

We have recently implemented GST.

Due to GST, the various indirect and hidden taxes have ceased to exist.

The biggest beneficiaries of GST will be the consumers, middle class

Effective grievance redressal systems are vital for a democracy. We are integrating technology and ensuring stronger grievance redressal mechanisms

The Government’s efforts ensured inflation has been kept under check and the consumer saves money

The Government has devoted effort and resources towards digital empowerment of the rural consumer

We attach top priority to safeguarding consumer interests.

Going a step ahead of consumer protection we are looking at consumer prosperity.

India is amending the Consumer Protection Act with a determined focus on consumer empowerment. RERA ensures protection of home buyers.

Effective service delivery, schemes like Ujala that help save money & efforts to check inflation have furthered interests of consumers.

India’s large consumer base offers great business and investment opportunities, which must be leveraged by the world.