) hasn’t done India any big favours by announcing a new $1 billion investment, its trade minister said on Thursday, laying bare tensions with the U.S. online retail giant during a visit to the country by its CEO Jeff Bezos.
Amazon and Walmart’s Flipkart are facing mounting criticism from India’s brick-and-mortar retailers, which accuse the U.S. giants of violating Indian law by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. The companies deny the allegations. “They may have put in a billion dollars but then if they make a loss of a billion dollars every year then they jolly well have to finance that billion dollars,” Indian trade minister Piyush Goyal told a security conference in New Delhi.Amazon did not respond to a request for comment.
Goyal welcomed Amazon’s investment over recent years, but questioned whether the funds merely covered losses incurred through discounting.Amazon’s marketplace unit in India reported a loss of 56.85 billion rupees in the fiscal year ending March 2019, the Economic Times reported in October, citing filings on India’s Registrar of Companies. Reuters could not immediately access the filings.
It would destroy millions of small factories in India if Amazon succeeded its plan
Also invest in Pakistan Mr. JeffBezos
Honestly Jeff, what the heck do you see in her?
Just pay American taxes dude
000.000.000
What is Lauren wearing 😭
Amazon in India is a failure because it mostly promotes plastic items, to put it bluntly. Its a huge disappointment as India is also getting into climate change and the Indian customer is looking for green sustainable items. Being close to India we know the items on offer :)
Money can buy your a pornstar, it can’t buy you taste. Jeff B looking for business and profit.
They need basic stuff like clean water and proper bathrooms. The Ganges is a polluted mess. Education and safe transportation are issues. Their animals also need protection.
even with all the money in the world, bezos couldn't buy a proper taste in women.
Bezo’s girlfriend is scary ugly.
The trade minister is full of shit.
slightly too small dresses 🤣🤣
He's just covering up for his losses ... N lets be clear Amazon is predatory in its approach... In India we need more jobs... And small retailers provide maximum jobs in India... He will have to fall in line with regulatory norms
whats up with the stupid pouty lip posturing with these ladies.
India needs to ban amazon. Grow you own tech giants. Take page out of how us deals with hwawei and tiktok
RSS-BJP forced Coca Cola and other US companies to shut shops, lose investment back in 1977-79.
And they say money can’t buy happiness...
Knowing Bezos, it means that India will end up paying ten times more than the investment is worth.
Pie-yoosh Go-yaal. 😀😀😀
Great...another country he can NOT PAY TAXES in
Who does the scum think IS getting the favor when someone invests a billion dollars in their broken country?
🤣🤣 Jeffrey and his gold digger smh..
Then pull out. Why go where it's not wanted?
I can honestly say I have never purchased anything from Amazon and never will. His employees are treated like slaves. They repackage returns and buyers think they are getting new items. A disgusting company.
Typical..bring the money to Sunderland !!
is Bezos dating one of the Bogdanoff twins?
the f is that
Looks like a lot of his $ was invested in 'plastic' for his new squeeze.
Is the Indian market even that much of a prize? Perhaps it’s more about killing/weakening local start ups and competition so that they cannot encroach the US market?
Companies, especially ones driven by hyper greed like Amazon don't do anything that's not in their interest. If they were socially responsible at all they would pay their fair share of taxes. Amazon isn't in India to help India, it's there make money for Amazon
Um, a BILLION dollars? 'It’s not as if they are doing a great favor to India'...
Tell that to adani
Jeff, I'd be grateful if you invest 0.1% of that to my project.
Smart minister, India is using her population number to brag...They learnt that from China.
Economic terrorism
Jeff Bozo should pay his workers a living wage
look at Bezo's sleepy eye.
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