Published
Jul 24, 2018
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CAIT vows to approach Supreme Court if Flipkart-Walmart deal is approved by government

Published
Jul 24, 2018

The Confederation of All India Traders (CAIT) has announced that it will approach the Supreme Court if the Union Government approves Walmart’s 77 percent Flipkart acquisition deal as it believes the deal will harm Indian traders.

CAIT has announced that it will approach the Supreme Court if the Union Government approves Walmart’s 77 percent Flipkart acquisition deal - Flipkart- Facebook


CAIT has announced that its legal team are ready to swing into action should the government give Walmart the all clear to go ahead with its $16 billion (Rs 1 lakh crore) Flipkart acquisition deal as expected. "Traders are extremely unhappy over the Walmart-Flipkart deal,” said the Secretary of CAIT, Praveen Khandelwal in a statement. “This deal is definitely going to hurt them a lot.”

Khandelwal went on to say: "Therefore the government should take all precautions that this deal should not happen and it should not be approved by CCI [Competition Commission of India]". As part of the organisation’s efforts to convince the government against the deal, CAIT will meet with Ministers Smriti Irani, Nirmala Sitharaman, and Suresh Prabhu at the National Traders' Conclave this week.

"Our legal team has already decided to approach the Supreme Court and worked on the petition,” said Khandelwal. “We are ready with all the material. We are watching the government and if need be, we won't mind to go to the Supreme Court". 

CAIT will also organise further protests to follow on from its pan-India protests that followed Walmart’s formal confirmation of the deal. However, despite CAIT’s reaction, Walmart has consistently maintained that the deal is in line with the government’s rules which allows for 100 percent foreign direct investment (FDI) under the automatic route for the marketplace e-commerce model.

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