Union Commerce Minister Piyush Goyal raised concerns about the rapid growth of e-commerce in India, suggesting it might lead to significant social disruption. Speaking at the launch of a report on e-commerce’s impact on employment and consumer welfare, Goyal questioned whether the potential dominance of e-commerce in the market over the next decade is a cause for concern rather than pride.
While acknowledging that e-commerce is here to stay, Goyal emphasized the need for a well-regulated role for the industry. He criticized practices such as predatory pricing, highlighting that major investments by firms like Amazon may not benefit the Indian economy as expected.
Goyal also noted the negative impact on small retailers, pointing to the decline of local mobile stores in favor of large retailers. He stressed the importance of using technology to empower and benefit a broader section of society, ensuring that the convenience of e-commerce does not come at the expense of small traders and overall market balance.
