Commerce Minister Piyush Goyal said on January 17 that his statements on Amazon had been taken out of context and misunderstood.

On January 16, Goyal said at an event that Amazon was not doing India any favour by investing a billion dollars in India. His statement came at a time when Amazon CEO Jeff Bezos had just made his high-profile visit to India.

Goyal clarified today that what he had meant was any investment coming into the country from the right source and in line with the country's laws were welcome. The same, he said, was applicable in case of investments from Amazon.

Read more | Amazon not doing India a favour by investing $1 billion: Piyush Goyal

The Railways and Commerce minister said that his earlier statement had been taken out of context to make it seem like he said something negative with respect to Amazon.

Goyal added that there are some rules governing e-commerce in India and that whatever investments come in within the framework of the law were welcome. However, he reiterated that those should not offer unfair competition to the small businesses and enterprises in India.

Earlier on January 17, former finance minister P Chidambaram also took a jibe a Piyush Goyal's ‘doing favour’ remark. He said in a sarcastic response, "The snub will reverse the successive decline in imports and exports." Chidambaram further added that Goyal's statements would make for a "great headline in the world's media".