There is an urgent need to boost investment in country: Scindia

Expressing concerns over investment, economic growth rate, unemployment and inflation in the country, Congress leader Jytoriaditya Scindia on Sunday said, “There is an urgent need to boost investment in the country and to work on the economic growth rate in the country.”

While talking to media persons, Scindia further said that it is also important to bring inflation under control and end unemployment, and all these fronts there is a very serious situation which did not exist for the past 25-30 years.

The Congress leader termed the Piyush Goyal’s statement as unfortunate. “Today there is a dire need for investments in the country. There is a competition between the countries over attracting investors, in such an environment if such statements are issued they will do more damage than good,” Scindia said.

Clarifying his earlier statements, Goyal had on January 17 said that his statement regarding Amazon was misconstrued and asserted that the government welcomes all investments but it should adhere to rules and regulations.

Goyal said that these investments should not create unfair competition for small traders.”We welcome all types of investments. But if the foundation of any investment violates law then there will be a legal process. Some people think I said something negative against Amazon. If you look at the context of my statement, I said investment should come within the law and regulations. This process is followed across the world,” the minister told reporters here when asked to comment on his statement.

“There are some laws regarding eCommerce in India. We welcome investments that come under those laws. But this investment should not create unfair competition to small traders and retail businessmen in India,” he said.

Speaking at the Raisina Dialogue 2020 in New Delhi, Goyal had on Thursday said that Amazon is not doing a favour to India when they invest a billion dollars in the country.