Amazon not doing a favour to India by investing $1 billion: Piyush Goyal

Commerce and industry minister Piyush Goyal said Amazon was not doing India any favours a day after the company’s CEO Jeff Bezos pledged to invest an additional $1 billion in the country, adding that this was probably on account of a need to fund losses, remarks that are likely to be seen as a stinging rebuke to the world’s richest man. “How can a marketplace make such a big loss unless they are indulging in predatory pricing or some unfair trade practices? These are real questions which will need answers,” Goyal said.