© Reuters. FILE PHOTO: Piyush Goyal, India's Minister of Railways and Minister of Commerce and Industry, attends a meeting at the 50th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 21, 2020. REUTERS / Denis Balibouse / File Photo
By Abhirup Roy and Aditya Kalra
NEW DELHI (Reuters) – India's Trade Minister saw himself on social media Saturday for comments that many large domestic corporations had overlooked national interests and that the Tata Group's $ 106 billion objection to proposed policy changes for upset e-commerce, exposed to intense heat on Saturday.
At an event organized by the Confederation of Indian Industry (CII) on Thursday, Minister Piyush criticized Goyal Tata, saying broadly that local businesses shouldn't just focus on profits or think about circumventing local laws, according to media reports and one Source who participated in the event.
The comments caught public attention and sparked a debate on social media after the Hindu newspaper reported on Saturday that the government had asked the CII to block videos containing Goyal's comments.
Two links to these videos of Goyal's speech that were shared with journalists have now been marked private and blocked. The CII and Goyal offices did not respond to a request for comment.
"The kind of language used against captains of industry and describing their work against the nation's interest is shameful … CII should seek an apology instead of helping it by pulling down the video," said Priyanka Chaturvedi, a lawmaker and opposition leader .
A spokeswoman for India's largest opposition Congress Party, Supriya Shrinate, said on Twitter that Goyal's statements were "undignified".
Goyal's comments on Tata came after Reuters reported last month that https://reut.rs/3eLCfJo was the most vocal in telling the conglomerate to the government at a meeting in July that the proposed e-commerce rules will be a big impact Business will have https: / /reut.rs/3dDlJdI and prohibits its joint venture partners like Starbucks (NASDAQ 🙂 from selling goods on Tatas shopping websites.
Speaking at the CII event, Goyal said that Tata's objection to the rules violated him and said he conveyed that position to Tata Sons chairman N. Chandrasekaran, the source present said.
Tata did not want to comment on Saturday.
Goyal has also repeatedly criticized https://reut.rs/3qs5aXw Amazon (NASDAQ 🙂 and Walmart (NYSE 🙂 Flipkart for allegedly bypassing foreign investment rules for e-commerce. This week he also cited the Quit India movement https://reut.rs/3AwPsho in Parliament when he welcomed a court order that allowed an antitrust investigation into the two companies to continue.
However, the Confederation of All India Traders welcomed Goyal's position on Saturday, saying it was "very unfortunate" that Tata opposed the government's e-commerce rules.
153-year-old Tata Group has big e-commerce plans and plans to roll out an app that will integrate several of their top brands, but the proposed policy changes have scared them, Reuters reported https://reut.rs/ 3eLCfJo.
Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.
Fusion Media or any other person involved in Fusion Media assumes no liability for any loss or damage that might arise from reliance on the information contained on this website, including data, prices, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.