New Delhi | 16-Jan: Amid Amazon CEO Jeff Bezos’ India visit, Commerce Minister Piyush Goyal has urged the investors to follow the letter and spirit of the law. He said that the use of the e-commerce model to enter multi-brand retail in India will be investigated and the Competition Commission has initiated an inquiry into the working of Amazon. The Commerce Minister further added that India has strict rules about FDI in multi-brand retail and the country needs to know what is being imported and under what category. He clarified that the aim of recent notification is just to create more transparency. In another very strict statement, Piyush Goyal said that Amazon is not doing any favour on India by investing a billion dollars.
The government mentioned 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. “Our government has allowed e-commerce entities to come to India under the marketplace model. As long as everyone follows the rules, we welcome e-commerce in India and they are happy to trade and serve the people of India,” Piyush Goyal added. (FE)
