Amazon's investment in India to make up for its losses; not to support Indian eco: Goyal
Amazon's investment in India to make up for its losses; not to support Indian eco: Goyal
NEW DELHI: Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of USD 1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country.
He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
Launching a report on 'Net Impact of e-commerce on Employment and Consumer Welfare in India' here, the minister lambasted the e-commerce companies, questioning their business model that has been impacting small retailers in the country.
