Union Minister of Industry and Commerce Piyush Goyal said on Friday that his statement on Amazon was being misinterpreted. He said that the government welcomes all investments under rules and regulations. Goyal said that such investment should not create unfair competition for small traders. When reporters wanted to know his comment on the statement made on Amazon, Piyush Goyal said, "We welcome every kind of investment."
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He further said, "If the foundation of any investment violates the law, then the legal process is being adopted for it. Some people think that I have said negative about Amazon. If you look at the perspective of my statement, I have said that investment should come under rules and legislation.' Goyal further said, 'There are some laws in India about e-commerce. If we welcome that investment, then we come under the rule. But this investment should not create unfair competition for small traders and retail traders.'
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In the Raisina Dialogue 2020 on Thursday, Goyal said that Amazon is not doing any favor by investing 1 billion dollars in Bahrat. He said, "Amazon can invest a billion dollars, but if they are losing billions, then they must be arranging that billion dollars." It is not like that Amazon is doing India a favor by investing 1 billion dollars. On Wednesday, Amazon founder Jeff Bezos announced an investment of 1 billion dollars or about Rs 7,092 crore in India.
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My statement on Amazon misconstrued, govt welcomes all investments within regulations: Piyush Goyal
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