Tuesday, March 18, 2025 | 01:00 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Amazon hasn't done India any big favours by investing $1 bn: Piyush Goyal

Ahead of Bezos' visit, the Competition Commission of India launched a probe into Amazon and Flipkart to look at allegations of deep discounts and whether the firms discriminate against small sellers

Piyush Goyal
Premium

Reuters New Delhi
A day after the world's richest person Jeff Bezos announced fresh $1 billion investment in India, Union Commerce and Industry Minister Piyush Goyal on Thursday said his firm Amazon was not doing a favour to the country by the investments and questioned how the online retailing major could incur such "big" losses but for its predatory pricing.

Goyal, who has not yet given Bezos an audience, said e-commerce companies have to follow Indian rules in letter and spirit and not find loopholes to make a back-door entry into multi-brand retail segment.

India does not allow foreign investment beyond 49 per cent in

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in