E-commerce boom in India a matter of concern: Goyal

Commerce and industry minister Piyush Goyal on Wednesday questioned the business practices of global e-commerce giants like Amazon in India, accusing them of using corporate structures to circumvent rules and indulging in predatory pricing while taking on huge losses.

“When Amazon says we will be investing $1 billion in India and we celebrate, we forget the underlying story. Those billion dollars are not coming for any great service or investment to support the Indian economy. They made a billion-dollar loss in their balance sheet that year.