India, Jan. 25 -- After his remark on Amazon chief Jeff Bezos was widely reported, Commerce & Industry Minister Piyush Goyal came up with his defence: "My statement should be seen in context. Investments are welcome but they should be within the law."

Economic growth is dipping, the unemployment rate is the highest in almost half a century, investors are reluctant to put in their money in India-and when the world's richest person announces to bring in $1 billion, Goyal comes up with his statement. "They [Amazon] may have put in a billion dollars but if they make a loss of a billion dollars every year, then jolly well will have to finance that billion dollar. So, it is not as if they are doing a favour to India when they invest a billion ...