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India Minister Gives Amazon’s $1 Billion Investment the Cold Shoulder

Amazon IndiaAmazon CEO Jeff Bezos recently announced that his company would be investing $1 billion to help get India’s small businesses online. That is in addition to the $5.5 billion already committed since 2014.

Indian trade minister Piyush Goyal was not impressed. His comments on the investment illustrate the difficulty of the situation e-commerce giants such as Amazon and Flipkart are faced with as they try to make headway in India.

“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.

Read the full story at Reuters.