He was addressing the first session of the Inter-governmental Group of Experts on Consumer Protection Law and Policy during the launch of revised UN Guidelines for Consumer Protection at Geneva yesterday.
"Our government has tabled a new Consumer Protection Bill in Parliament, drawing from the latest and the best global practices. Through this new legislation, we aim to address the consumer issues in a comprehensive manner offering executive, quasi-judicial and judicial remedies," Chaudhary said in an official statement.
The minister informed that this bill has been drafted after extensive consultations with stakeholders.
"While drafting the Consumer Protection Bill-2015, special emphasis has been made to ensure simplicity, speed, access, affordability and timely delivery of justice," he said.
He termed it as a futuristic bill and said that it's a transformative step towards strengthening consumer protection and giving a clear message that 'consumer is the king'.
"India is spending about 30-50 million US dollars on consumer protection annually and has initiated a number of consumer centric schemes based on the broad fundamentals of consumer awareness, standard and conformity assessment and inexpensive and quick redressal," Chaudhary said.
The e-filing of complaints by consumers in Consumer Fora is under process, the minister informed.
Chaudhary said the approach and mechanisms adopted to protect consumers might vary from one country to another, given the unique characteristics prevailing in the different respective economies and financial systems.
"Consideration of country-specific circumstances and contextualization is important to evolve relevant and effective consumer protection and education infrastructures.
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