Piyush Goyal’s U-turn on Amazon: Now says Jeff Bezos’ money is welcome, after big snub

Piyush Goyal said the government appreciates any investment coming from the right source and under the purview of law.

piyush goyal, commerce minister, amazon, investment welcome, FDI, multi brand retail

Commerce Minister Piyush Goyal has said that yesterday’s statement, “Amazon is not doing any favour on India by investing a billion dollars”, has been taken out of context and he welcomes Amazon’s investment in India. He also told the reporters that the government appreciates any investment coming from the right source and under the purview of the law. While speaking at Raisina Dialogue 2020 yesterday, Piyush Goyal had said that India believes in fair play and equal treatment to all in trade and any curbs that it put are the best interests of India’s trade and international trade and apply to all countries uniformly.

Piyush Goyal made remarks on Amazon while the company’s CEO Jeff Bezos is on an India visit. The government put an objection on the use of the e-commerce model to enter multi-brand retail in India. The Commerce Minister had also said that the Competition Commission has initiated an inquiry into the working of Amazon.

Also Read | Piyush Goyal’s tough message to Jeff Bezos: Amazon not doing favour to India with a billion dollars

The minister said that the small businesses of India should not suffer because of any giant player and unfair competition. Even the small traders do not get credit on zero interest so it will be unfair to let any specific firm to dominate the market.

Meanwhile, amid friction with the government, Amazon CEO Jeff Bezos has promised 10 lakh jobs in India, apart from an investment of USD 1 billion to digitise micro and small businesses in cities, towns, and villages across India. The Amazon CEO visited India this week for the first time in around 5 years even when there are protests in different parts of the country. Jeff Bezos landed in India on January 14 and paid homage to Mahatma Gandhi at the Raj Ghat in New Delhi.

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