We welcome all kinds of investments that follow the letter and spirit of law: Piyush Goyal
New Delhi/IBNS: A day after Union Minister for Commerce & Industry and Railways Piyush Goyal said by investing a billion dollars Amazon was not doing any 'favour' to India, he clarified his remark on Friday by saying that the Indian government welcomes all kinds of investments but they should follow the spirit and letter of law.
"We welcome all kinds of investments that follow the letter & spirit of law. If some investment is outside the legal purview, appropriate action will be taken," he tweeted.
"Our government wants to ensure that unfair competition is not created for crores of small traders & retailers of the country," he said.
Speaking on Thursday's remark, he said: "My statement should be seen in proper context."
Amazon founder Jeff Bezos on Friday said his company will create 1 million jobs across India by 2025.
Image Credit: Keywords: Twitter hashtags: Embed Codes: Image use advice: Reporter/Editor Initial: sh - India Blooms News Service (IBNS) Feedback: bloomsnews@gmail.com Call: (0091) 9830096463We welcome all kinds of investments that follow the letter & spirit of law. If some investment is outside the legal purview, appropriate action will be taken.
— Piyush Goyal (@PiyushGoyal) January 17, 2020
Our Govt. wants to ensure that unfair competition is not created for crores of small traders & retailers of the country. pic.twitter.com/OdhyXR90pH
Jeff, who is on a three-day visit to India, said in a statement: "We will use Amazon's global footprint to enable US$10 billion in exports of Indian products to the rest of the world by 2025. Our investments in India will create an additional 1 million jobs across the country by 2025."
Amazon on Wednesday announced its plans to invest USD 1 billion to digitally enable micro, small, and medium enterprises (MSMEs) and traders across India, including manufacturers, resellers, local offline shops, and brands.
The company aims to digitise 10 million MSMEs with this investment, helping Indian businesses grow by selling online worldwide and enabling USD 10B in cumulative exports by 2025.
As part of this effort, Amazon will establish 100 Digital Haats in cities and villages throughout India.
Bezos announced the plan in front of thousands of MSMEs at the inaugural Amazon SMBhav Summit.
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