Piyush Goyal Criticizes Amazon's Billion-Dollar Investment in India

Commerce and Industry Minister Piyush Goyal questioned Amazon's $1 billion investment in India, alleging predatory pricing. Goyal argued that Amazon's substantial losses point to harmful practices affecting small retailers. He also critiqued e-commerce's impact on employment, consumer welfare, and traditional retail sectors, urging cautious regulation.

Commerce and Industry Minister Piyush Goyal has raised questions about Amazon's announcement of a $1 billion investment in India. Goyal alleged that the US-based retailer is compensating for its significant losses in the country, and accused the e-commerce giant of engaging in predatory pricing that impacts millions of small retailers.

Launching the 'Net Impact of e-commerce on Employment and Consumer Welfare in India' report, Goyal criticized the e-commerce business model, which he said unfairly affects small businesses. He questioned whether Amazon's billion-dollar injection truly benefits the Indian economy or merely covers financial losses.

Goyal highlighted the detrimental effects of e-commerce on various sectors, including traditional retail and employment. He cautioned against unchecked growth and urged for organized and regulated development of the sector to avoid large-scale disruptions.

(With inputs from agencies.)