Traders Protest against Flipkart and Walmart deal

CAIT has protested against the proposed Flipkart-Walmart deal and demanded proper scrutiny from the government. Retailers have joined hands approached the regulator competition commission of India (CCI) against $16 billion Walmart-Flipkart deal as they apprehend that the it would lead to massive job loss and be a "nightmare for retail trade" of the country.

Above 1 million  traders and retailers have taken to the streets across 500 cities to protest against US retail giant Walmart’s potential acquisition of online retailer Flipkart and  raising concerns about losing business if the deal   comes to the seal.

The Confederation of All India Traders (CAIT) said in a strongly worded statement alleged ruling party BJP of bias towards multinational companies and deviating from its commitment made in 2014 election manifesto, which is against the Sabke sath, Sabke Vikas.and claiming that the agreement would lead to an uneven playing field and massive job losses.

Global retail giant Walmart had last week approached the Competition Commission of India (CCI) for approval of its proposed acquisition in Flipkart, saying the deal doesn't raise any competition concerns. Walmart seeks to acquire 77 per cent stake in the homegrown e-commerce firm with a buyout of $16 billion. The company Flipkart registered in Singapore, however, the promoters are primarily Indian.

To address this deal, Praveen Khandelwal, CAIT secretary general said, CAIT has also written the industry concern to commerce minister Suresh Prabhu and sought to know what steps the government has taken to scrutinise the deal. It alleged that the deal involves important issues related to FDI policy, cyber security, apprehension of using e-commerce for entering retail trade by circumventing the law, CAIT said, it’s the first step in moving to Competition Commission of India against this deal.

CAIT, Swadeshi Jagran Manch  and many other Industry associations also expected to take part in this noble cause and  there is a threat for a pan India protest against the deal. Today, the traders association which represents over 70 million merchants is going to raise its voice against the US-based company in 500 cities of India. This will be one of the biggest protests by any representing body in e-commerce industry of the country.