Traders to protest on September 28 against Walmart-Flipkart deal

By

Maverick Martins

Published
Aug 21, 2018

Traders' body Confederation of All India Traders (CAIT) will be holding a massive protest across the country and demanded all traders shut stores to oppose the recently approved Walmart-Flipkart deal.
 

CAIT will be holding a series of protests in the country starting September 15 against Walmart-Flipkart deal which it feels is a violation of Press Note No 3 of 2016 of Government.
 
US-based retail giant Walmart Inc last week had officially completed the acquisition of 77 percent stake in leading Indian e-commerce firm Flipkart.

CAIT Secretary General Praveen Khandelwal in a statement said, “The deal has violated Press Note No 3 of 2016 of Government and is a combination with a sinister design to control and dominate the retail trade through the passage of e-commerce."
 
“It will create an uneven level playing field and will wipe out the competition due to their business module, which entails predatory pricing, deep discounting and loss funding,” he added.
 
"The markets across the country will remain closed on 28 September while observing Bharat Trade Bandh and traders will take out protest march in their respective cities across the country," CAIT said.
 
CAIT, a body representing Indian traders is also planning to approach the courts to seek justice after the Competition Commission of India (CCI) gave its clearance to the Walmart-Flipkart deal.