Khandelwal applaud Goel statement on terming Amazon investments as funding the losses

Chandni Chowk MP and Secretary General of the Confederation of All
India Traders ( CAIT) Shri Praveen Khandelwal while commenting upon statement made by Union Commerce Minister Shri Piyush Goel terming Amazon Investments as funding for losses, said that this statement in itself reflects the functioning of foreign companies like Amazon who are treating India as a banana republic.

Mr Khandelwal complimented Shri Piyush Goel for underlining the methodology of foreign companies to capture Indian market by creating unhealthy and uneven competition.

Mr Khandelwal argue that foreign investments should be scrutinized to ensure they contribute positively to the local economy and do not merely serve to sustain operations that are not yet profitable. This perspective underscores the importance of balancing foreign direct investment (FDI) with sustainable business practices that benefit the domestic market.

Mr Khandelwal said that this statement oversimplifies the complexities of e-commerce investments and ignores the broader strategic objectives of market expansion and infrastructure development. He highlight that global companies like Amazon often invest heavily to establish a strong market presence by indulging into predatory pricing, loss funding, owing inventory which is a violation of FDI policy of the Government.

Mr Khandelwal said that the statement underscores the ongoing debate about the role of FDI in India’s economy and the need for policies that both attract global companies and safeguard national interests.