Govt helps e-commerce however calls for truthful play and honesty, says Piyush Goyal

A day after lashing out towards e-commerce big Amazon for suspected predatory pricing practices, Commerce & Business Minister Piyush Goyal stated that the federal government was not towards e-commerce or FDI  however that there needed to be truthful play and honesty in direction of customers, suppliers, and native companies.

“We’re very clear that we need to invite FDI, we need to invite know-how. We’re not towards on-line in any respect…What the federal government wishes is truthful play and honesty for the shopper (and) to the provider of products and providers. And to make sure that our folks even have a good probability to compete towards such on-line businesse,” Goyal stated on Thursday at an occasion in Mumbai.

The Minister additional stated that e-commerce has large advantages. “It has the good thing about comfort, it has the good thing about pace. It’s supplying you with consolation in your house,” he stated

On Wednesday, Goyal had voiced issues about predatory pricing by e-commerce companies, naming Amazon. He stated that the 100 million small retailers throughout the nation wanted to be protected towards social disruption. Goyal proposed a dispassionate and data-driven evaluation of the broader implications of e-commerce. 

India is at present the fourth-largest retail market on the earth. In 2023, its retail market dimension was estimated at $820-840 billion, whereas the e-commerce enterprise was estimated at $60-70 billion. In 2027, India’s retail market and e-commerce are projected to the touch $1.1 trillion and $300 billion, respectively.