The minister expressed confidence that a new consumer protection law will be passed in the next session of Parliament, replacing the current 32-year old Act.
Speaking at an event here, Paswan also advised the industry to institute consumer-friendly awards to recognise companies that placed consumers first.
Stating that the government is promoting ease of doing business, Paswan said, "Even the industry has a role to play in ease of doing business. They should focus on selling quality products/services at affordable rates."
Paswan also assured the industry that his ministry is ready to resolve issues related to packaging and labelling norms.
On the proposed new law, the minister said, "We are confident of passage of the bill in the next session of Parliament. We have taken care of misleading ads and adulteration in the bill."
The Consumer Protection Bill aims to provide stringent punishment for celebrities and brand ambassadors endorsing misleading ads and those involved in adulteration. It also has provisions to regulate e-commerce and direct selling, besides setting up of a regulator.