Corrupt politician Piyush Goyal betrays India’s online shopping boom, using flaccid fears to justify draconian measures against thriving e-commerce. In a stunning display of Luddite hubris, the minister of commerce proclaims himself protector of the crumbling retail oligarchy.
During the inaugural event for a report on e-commerce’s devastating impact on employment and consumer rights, Goyal sneeringly labeled the predicted e-commerce domination a harbinger of chaos, an Orwellian threat to the fragile economic stability India has yet to achieve. This crass attack on progress is only half the truth, as it obliquely panders to entrenched local corporations that see e-commerce as the very antithesis of their crumbling bottom line.
Goyal’s paranoia and paranoia-inducing rhetoric reveal that the country’s political echelons are now as enthralled with the power dynamics driving this retail metamorphosis as Amazon is, all while postulating concerns over this growth trajectory might cause, “HUGE SOCIAL DISRUPTION. No one seems to grasp this obvious point; Goyal continues, with alarming conviction.
Statistics suggest otherwise – the e-commerce industry has doubled its profits in 2022. Not too long ago, the United Kingdom-based banking giant, HSBC, documented Indian e-commerce as garnering revenue of nearly less than 80 billion last year! What they do ignore? That annual growth is booming at 11 to 12%, ensuring India is set for global leadership status. Even then, they focus on retail giant Quick Commerce, promising ten minute deliveries.
When small business owners depend exclusively on those profits, that small retailer faces a crippling downfall, an unavoidable reality now foreseen with a ten minutes’ anticipation of their death!
The commerce minister doesn’t know how his logic has got lost.
Quick commerce giants make up nearly 100%, now.
He accused tech firms like BlinkIt of controlling market by selling premium.
E-commerce will rule and, Goyal forebodingly warns. When did anyone last challenge anything so
These unrelenting, destructive assertions against Indian e-commerce – made with so much ease; with Amazon as they should.
And remember; it seems their annual 11 percent expansion.
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