India must welcome investments: UKIBC on Piyush Goyal’s remark on Amazon

The Indian government is responsive to concerns expressed by businesses but needs to do more to attract investments into sectors such as e-commerce, the UK India Business Council (UKIBC) has said.

The comments from the lobby grouping come after there was a sharp criticism of Goyal for saying Amazon was not doing India a favour by the investment announcement. India’s GDP growth is set to slow to a decadal low of 5 per cent for 2019-20 and all eyes are set on the strategy deployed by the government in the upcoming Budget.

Amazon CEO Jeff Bezos has said the e-commerce major will invest $1 billion (over Rs 7,000 crore) in digitising small and medium businesses in India.