look news india
New Delhi: Expressing concern over the growing popularity of e-commerce in the country, Commerce Minister Piyush Goyal said that the rapid growth of e-commerce is not a matter of pride but a matter of concern. Not against e-commerce, but the role of e-commerce in the Indian economy should be carefully reviewed.
Speaking at the launch of a report on the net impact of e-commerce on employment and consumer welfare, he said the unregulated growth of the e-commerce sector could lead to social unrest if not handled carefully.
He acknowledged the role of e-commerce in India's economy but a more systematic approach is needed to expand it. The impractical pricing policy of some e-commerce companies will do more harm than good to the country's economy.
When e-commerce companies talk about investing billions of dollars in the country, we forget the fact that these billions of dollars do not come for any service or investment. This money comes to cover the losses.
He expressed concern over the decline in the number of small retailers due to the advent of large e-commerce and retailers. As small mobile stores are disappearing, the question arises whether any big brand should survive.
According to various reports, the commerce minister warned that allowing e-commerce to grab a large share of the market without recognising its wider impact risks causing serious social disruption.
Small businesses should not suffer due to technology and there is a need to ensure that a larger section of the society benefits from it.
