Union Minister of Commerce and Industry Piyush Goyal addresses the 49th Annual General Meeting of the U.S.-India Business Council, in New Delhi on September 11, 2024 (ANI Photo)
| Photo Credit: ANI

Commerce Minister Piyush Goyal on Wednesday (September 11, 2024) said that the government will protect the interest of 100 million small retailers, who are facing competition from major e-commerce players.

Last month, the minister lambasted the e-commerce companies, questioning their business model that has been impacting small retailers in the country.

“I assure you that we will continue to work with you to meet the aspirations of 1.4 billion Indians for a better quality of life, for a better future, the aspirations of 140 million farming families…the aspiration of a 100 million small retailers, the small mom-and-pop stores, which have disappeared from the US landscape, which we are at least making an effort to protect to some extent,” he said.

Mr. Goyal was addressing members of the India-U.S. business council.

He also said that the U.S.-India CEO forum will meet on October 2-3 in Washington to further their commercial dialogue.

The Minister noted the “common source of concern” for both the US and India in critical minerals and stressed on self-reliance in the sector.

“Let us work towards critical minerals which is an important part of our partnership to have a resilient supply chain. We have a lot to offer and you have a lot to offer,” he added.

The Minister had last month stated that e-commerce companies are eating into the small retailers’ high-value, high-margin products that are the only items through which the mom-and-pop stores survive.