Weighing in on quick commerce player Blinkit's launch of ambulance service a day earlier, commerce minister Piyush Goyal on January 3 said companies should ensure that they are in compliance with the law of the land.
"My only submission would be they have to make sure that they meet the law of land. And, whatever other legal requirements should be properly taken care of. No laws of the land should be broken," Goyal said while addressing media on Startup India.
Blinkit, Zomato’s quick-commerce platform, launched a 10-minute ambulance service in select areas of Gurgaon on January 2. CEO Albinder Dhindsa announced the initiative, which would initially have five ambulances, and also outlined plans to expand the service to other cities.
Goyal's comments come at a time when there has been a wide-spread discussion on the meteoric rise of quick-commerce platforms and its impact on the traditional kirana stores.
Responding to a question on kirana stores facing losses due to the rapid expansion of quick deliveries by online platforms, Goyal said the government was monitoring the development.
"CCI (Competition Commission of India) has weighed in wherever they have seen anti-competitive practice. Investigation agencies have also investigated in cases where the spirit and letter of the law were not followed. We welcome everyone, but everyone should work within the confines of the law," the minister said.
In 2024, the Confederation of All India Traders (CAIT) released a “white paper”, accusing quick-commerce players such as Blinkit, Instamart and Zepto of plotting against kirana stores.
The traders’ body accused the platforms of misusing foreign direct investment (FDI) norms by offering deep discounts.
When asked if the government would take steps to arrest the trend of startups losing their unicorn status, Goyal said, "This has happened more in the last 12, 13 or 18 months. We have been monitoring, but didn't find too many cases. Hardly found one or two cases."
He added that the government lets market forces decide the valuation of a company.
"Neither do we interfere when a Zepto becomes an unicorn in less than three years run by a 19- year-old boy neither do we interfere when someone's value falls, which could be due to mismanagement or lack of financial prudence," the minister said. Unicorns are startups that are valued at a billion dollar or more.
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