Source: The Economic Times India
NEW DELHI: Top executives at several multinational and Indian companies on Thursday took umbrage at commerce minister Piyush Goyal’s comment that Amazon was not doing any favour to India by announcing a fresh $1 billion investment in the country.“Until now it used to be a matter of pride to announce such big investments into India,” said the chief executive of an MNC. “But if this is the response companies are going to get from the current dispensation, they will think twice before making or announcing investments here.”The top executive of another company said this did not “reflect well” on India. “It will only drive foreign investments away,” he said.On Thursday, while speaking at a security conference in New Delhi, Goyal sounded unimpressed by Amazon’s pledge. “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,” Goyal said. “So, it;s not as if they are doing a great favour to India when they invest a billion dollars.” 73315924 Several of the business leaders ET talked to said they were offended by the minister’s statement.