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'Arrogant' US E-Commerce Firms Flout Indian Laws: Union Commerce Minister Piyush Goyal
Commerce and Industry Minister Piyush Goyal.
Slamming United States (US)-based Amazon.com Inc, Walmart Inc, and e-commerce giants, Union Commerce Minister Piyush Goyal has accused them of arrogance and of flouting local laws by indulging in predatory pricing practices, reports The Economic Times.
Goyal has claimed that the companies were using their scale and access to large pools of low-cost capital to indulge in predatory pricing practices "to the detriment of mom-and-pop stores".
Goyal has also claimed that a number of these companies have very blatantly defied the laws of the land in "more ways than one". He said, "I've had several engagements with these large companies, particularly the American ones, and I can see a little bit of arrogance."
Goyal has criticised companies for indulging in "forum shopping" in courts and failing to comply with an investigation launched by the Competition Commission of India (CCI). He said, "To my mind, if they have nothing to hide, if they are doing honest business practices, why don't they respond to the CCI?"
It should be noted that Goyal did not directly name Amazon India or Walmart-backed Flipkart or specify which local laws they have defied.
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