Indian traders launch protests against Walmart-Flipkart deal

By

Maverick Martins

Published
Sep 17, 2018

The Confederation of All India Traders (CAIT), a body representing Indian traders, has launched a 90-day protest march opposing the Walmart Flipkart deal and foreign direct investment (FDI) in retail from New Delhi's Red Fort.

CAIT has named the protest rally as ‘Sampoorna Kranti Rath Yatra’ and will cover all the states over the next three months and will conclude on December 16 at the Ramlila Ground in New Delhi, CAIT said in a statement.
 
Sharing details on the protests, CAIT secretary general Praveen Khandelwal said, “The yatra would be a door to door campaign which would cover 22,000 kilometres in 28 states, including 120 cities and 500 towns. Beside FDI in retail, the rath yatra will highlight core issues like the need for simplification of GST, robust and transparent e-commerce policy, adoption and acceptance of digital payments, easy access to finance to small businesses through MUDRA Yojana.”

“CAIT has also called for a "Bharat Trade Bandh" on September 28 to protest against the Walmart-Flipkart deal and FDI in retail. Nearly seven crore establishments are expected to down shutters during the September 28 bandh,” he added.
 
CAIT had earlier filed a petition in National Company Law Appellate Tribunal (NCLAT) demanding reversal of Competition Commission of India's approval to Walmart-Flipkart deal.
 
CAIT has been opposing the Walmart’s 77 percent Flipkart acquisition deal worth $16 billion, as it believes the deal harms Indian traders and is a violation of the government Press Note No 3 of 2016.