INSUBCONTINENT EXCLUSIVE:
Goyal did not agree with the report, saying that there's a need for policies that protect local businesses and ensure fair competition in
concern and may lead to employment loss in traditional retail, said Commerce and Industry Minister Piyush Goyal on Wednesday.
He accepted
'Net Impact of E-Commerce on Employment and Consumer Welfare in India'.
He criticised the investment strategies of large e-commerce
companies, suggesting their losses are offset by significant payments to professionals and top lawyers
dollars is not coming in for any great service or any great investment to support the Indian economy
They made a billion dollars loss in their balance sheet that year
year, does that not smell of predatory pricing to any of you? What did that loss come on? They are up to all the e-commerce platforms
e-commerce is a key driver in generating employment and online vendors employ 54 per cent more people and almost twice the number of female
It said growth of e-commerce has not come at the cost of traditional retail
Less than a fifth of the offline vendors reported physical store closure in their neighbourhood since 2020, the year that saw a boom in
Physical retail continues to grow and thrive, it said.
Goyal did not agree with the report, saying that there's a need for policies that
protect local businesses and ensure fair competition in e-commerce, The government must study the impact of e-commerce on employment and
local businesses.First Published: Aug 21 2024 | 1:00 PMIST
