Must Protect 100 Mn Small Retailers In Race For E-Commerce Dominance: Piyush Goyal
Date
8/21/2024 6:45:13 AM
(MENAFN- IANS) New Delhi, Aug 21 (IANS) In the race to gain market share in the e-commerce sector, we must not cause disruption for the 100 million small retailers across the country, Union Commerce Minister Piyush Goyal told the industry stakeholders on Wednesday.
Emphasising that the growth of e-commerce should be citizen-centric, the minister stated this growth must democratise the distribution of benefits among the larger section of society in the country.
“There's a large section out there who still deserves our help. When it comes to jobs and opportunities for the future of India, I think all of us will have to play our part," he said at an event in the national capital.
Technology is a means to empower, to innovate and means to meet consumer requirements - sometimes more efficiently.“But this growth must be in an orderly fashion,” said Goyal.
The Commerce Minister expressed his concerns regarding the growing influence of e-commerce on India's traditional retail sector and its potential impact on employment.
He also highlighted the possibility that half of India's market could become part of the e-commerce network in the next decade, a development he described as "a matter of concern."
Sharing that the decline of traditional "mom and pop" stores in countries like the United States and Europe happened due to the rise of e-commerce, the minister told the gathering that he is not“wishing away e-commerce”.
“It's here to stay, but we have to think very carefully and cautiously about its role. Is predatory pricing good for the country?” asked Goyal.
At the event, the Commerce Minister also urged the business community and experts to carefully study and evaluate the impact of e-commerce in the context of the needs of the country in a“detailed and scientific manner”.
He also underscored the importance of protecting India's developing economy and supporting those who still need affirmative action.
MENAFN21082024000231011071ID1108584277
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.