India’s Commerce and Industry Minister, Piyush Goyal, expressed concern over the impact of global e-commerce giants like Amazon and Flipkart on local businesses and employment due to their predatory pricing policies. Despite announcements of increased investments in India, Goyal highlighted that these investments are often made to cover losses rather than contribute to the country’s economic growth. Amazon and Flipkart reported significant losses in their India operations, raising questions about their business practices.
Goyal accused these e-commerce firms of illegalities, such as operating in the business-to-consumer space but rerouting through different entities to show as business-to-business. He called out the need to address predatory pricing policies that harm millions of small businesses in the country. The minister’s remarks came during an event organized by Pahle India Foundation, shedding light on the darker side of the booming e-commerce sector in India.
Published on 22 August 2024, this highlights the growing concerns around the dominance of global e-commerce giants and their impact on the local economy.
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