New Delhi, January 17:  Minister of Commerce Piyush Goyal clarified after his comments 'Amazon not doing a favour to India'  got criticised widely. Speaking to ANI on his reported statement, he said, "It's not as if they (Amazon) are doing a favour to India when they invest a billion dollars. My statement should be seen in context. Investments are welcome but they should be within the law."

India Inc was upset with Goyal's statement and felt that such unwanted comments portray India's image in a negative light and will drive away future foreign investments. India Inc Upset With Piyush Goyal's 'Amazon Not Doing Favour to India' Comment, Says 'It Will Drive Away Future Foreign Investments'.

Goyal on Thursday sounded unimpressed by Amazon's investment plan and said, "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. So, it's not as if they are doing a great favour to India when they invest a billion dollars.”

Watch ANI video:

Jeff Bezos during his three-day official visit to the country announced that Amazon will be investing $1 billion to help digitise small businesses in India. The CEO announced an investment of roughly Rs 7,092 crore to digitally enable micro, small, and medium enterprises (MSMEs) and traders across India including manufacturers, resellers, local offline shops and brands.

(The above story first appeared on LatestLY on Jan 17, 2020 02:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).