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All foreign investments must adhere to law: Goyal
A day after stating that Amazon was not doing any favour to India by investing $1 billion, Union minister Piyush Goyal on Friday said the country welcomes all kinds of investments that follow the "letter and spirit" of the law.
Ahmedabad: A day after stating that Amazon was not doing any favour to India by investing $1 billion, Union minister Piyush Goyal on Friday said the country welcomes all kinds of investments that follow the "letter and spirit" of the law.
Goyal said that some people have misconstrued his remarks by suggesting that he had said something negative against Amazon. "I was only saying that investment should come as per the rules and regulation," Goyal said.
Big ticket investments in the retail space should not hurt small traders who does not have "lakhs and crores" of rupees, Goyal, who was here to inaugurate 'Ahmedabad Design Week', a three-day long event for the students of various design and architecture institutes, said.
"We welcome all kinds of investment. However, necessary legal process would follow if any investment is made outside the purview of law," the minister pointed out.
"Our country has some rules for e-commerce industry. We welcome all those investments which comes as per these rules.
