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WEF India Economic Summit Live Updates: US Secretary of Commerce Wilbur Ross raises trade deficit issue

Piyush Goyal says the 'spirit of Indian law' was to protect small retailers

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 3, 2019  | 13:31 IST
WEF India Economic Summit Live Updates: US Secretary of Commerce Wilbur Ross raises trade deficit issue

US Commerce Secretary at the World Economic Summit in India on Thursday said he believed India would be able to sustain a "balancing act" between small retailers and international e-commerce giants like Amazon and Walmart. Union Minister Piyush Goyal said India was not opposed to e-commerce but needed to protect smaller firms, and that the spirit of the Indian law was to protect small retailers, couldn't let them fall.

Check all the latest updates on World Economic Summit at BusinessToday.In live blog.

1.00 PM: Union Minister Piyush Goyal on Thursday said that India's stand on the issue of high tariffs on US products and regulations concerning e-commerce companies was very clear and that the "spirit of Indian law" was to "protect small retailers".

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