Not against e-commerce, but seeking fair play, says Piyush Goyal

The minister reiterated the example of the impact of the e-commerce industry in the US, saying that the rise of e-commerce led to the disappearance of “mom and pop” stores in the country, and that India’s efforts should focus on providing equal opportunities to an estimated 10 crore small retailers as India’s per capita income is not at par with Western countries.

“We are very clear that we want to invite FDI, we want to invite technology, and we want to have the best of the world. We are not against online commerce at all. Online e-commerce offers tremendous benefits, such as convenience and speed. What the government and the country desire is fair play, honesty for the customer, and honesty to the supplier, to ensure that our people have a fair chance to compete against such online businesses,” Goyal said. Citing data from a report on e-commerce, Goyal on Wednesday mentioned that the sharp growth of e-commerce, particularly in high-margin items crucial for retailers’ survival, could cause significant social disruption as half of our market could potentially become part of the e-commerce network ten years from now.

“Are predatory pricing policies good for the country? When Amazon says they are going to invest a billion dollars in India, we all celebrate. We forget the underlying story— that billion dollars is not being invested in any great service or in any significant way to support the Indian economy. They posted a billion-dollar loss in their balance sheet that year,” Goyal had said on Wednesday.