Commerce Minister Piyush Goyal expressed concern that the rapid growth of e-commerce could lead to significant social disruption for small retailers, stating that the prospective dominance of e-commerce in India should not be a point of pride.
Goyal highlighted that e-commerce sales in India's $1.1 trillion retail market totaled less than $80 billion last year, emphasizing that the sector is growing at an annual rate of 11%-12%, with quick commerce startups experiencing over 100% year-on-year growth.
He questioned the sustainability of e-commerce firms' pricing strategies, suggesting that reported losses might indicate predatory pricing practices that threaten small retailers reliant on high-margin products.
Referring to significant investments, Goyal remarked that while a billion-dollar investment by Amazon is lauded, the underlying narrative of potential economic detriment is overlooked, hinting at the consequences of losses in their financials.
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