E-comm welcome to work within the framework and the laws of the land: Piyush Goyal

Minister of Railways and Commerce Piyush Goyal on Thursday while speaking at an event revealed, that the government welcomes e-commerce companies to work within the framework and laws of the land.

However, he marked that the promises of a certain number of people benefiting from such companies cannot be at the expense of the suffering of many others.

“We welcome e-commerce to work within the framework and the laws of the land,” Goyal said at the Times Now Summit .

The minister stressed that the government allowed foreign direct investment (FDI) in e-commerce for the marketplace model, in which a firm is supposed to work as an agnostic platform by providing buyers and sellers, an opportunity to transact on that platform.

“The platform cannot push buyers towards a certain seller,” he added.

Goyal said the ministry is focusing on 12-13 sectors such as textiles where India has a competitive edge to promote exports. He voiced that exports grow when there is both comparative and competitive edge in different sectors.

He also emphasized that neither the Competition Commission of India (CCI) nor his ministry would have to probe on fair trade practices if e-commerce players “can stick within the letter and spirit of the law”.

On January 17, e-commerce giant Amazon had announced plans to create one million new jobs in India over the next five years.To this, Goyal had earlier remarked that Amazon was not doing any favour to India by announcing $1 billion investment in the country as they are financing their losses.

Leave a Reply

Your email address will not be published. Required fields are marked *