Union Government releases self-regulation Code of ethical business conduct for industry

Posted on:25 Mar 2016 16:15:11
Union Government releases self-regulation Code of ethical business conduct for industry
25 March 2016 Current Affairs: The Union Consumer Affairs Ministry has released a self-regulation Code of ethical business conduct to be adopted by the Industry on providing best products and services. In this regard, Memoranda of Understanding (MoU) was inked between Department of Consumer Affairs and the industry bodies related to self-regulated code of fair business. The code contains provision of trustworthy products and services for the consumers, comply with the competition and anti-trust laws and respond to consumer complaints promptly. It covers six broad principles to be adopted by the industry viz (i) safety of products and services, (ii) building sustainable supply chains, (iii) marketing products ethically, (iv) non-indulgence in unfair trade practices, (v) complying with competition and anti-trust laws, (vi) prompt response to consumer complaints.
The Union Consumer Affairs Ministry has released a self-regulation Code of ethical business conduct to be adopted by the Industry on providing best products and services. In this regard, Memoranda of Understanding (MoU) was inked between Department of Consumer Affairs and the industry bodies related to self-regulated code of fair business. The code contains provision of trustworthy products and services for the consumers, comply with the competition and anti-trust laws and respond to consumer complaints promptly. It covers six broad principles to be adopted by the industry viz (i) safety of products and services, (ii) building sustainable supply chains, (iii) marketing products ethically, (iv) non-indulgence in unfair trade practices, (v) complying with competition and anti-trust laws, (vi) prompt response to consumer complaints.

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