Commerce and Industry Minister Piyush Goyal stressed the importance of e-commerce companies following foreign direct investment (FDI) laws at a recent event in Mumbai.
He emphasized that these companies must adhere to the law in both its wording and intent, especially considering the rapid growth of quick commerce platforms.
Goyal"s comments were made in response to concerns raised by the Confederation of All India Traders (CAIT), which has accused Blinkit, Instamart, and Zepto, among other quick-commerce players, of undermining traditional kirana stores.
The minister reiterated the need for compliance with existing regulations to ensure fair competition in the market.