CAIT to move court after CCI nod to Walmart-Flipkart deal

By

Maverick Martins

Published
Aug 9, 2018

The Confederation of All India Traders (CAIT), a body representing Indian traders will be approaching the court to seek justice after the Competition Commission of India (CCI) gave its clearance to the Walmart-Flipkart deal.

CCI on Wednesday had approved U.S. retail giant Walmart Inc’s $16 billion acquisition of online marketplace Flipkart. Walmart had announced in May that it was acquiring about 77 percent of Flipkart in the biggest deal for India’s e-commerce sector.
 
CAIT is now all set for a legal battle in courts to oppose the deal and will also intensify its protests across India in the coming months to protest Government’s approval of the deal.

"We deeply condemn such an attitude and will certainly move the court against the decision of CCI. CAIT has called an emergency meeting of its governing council on August 19 at Nagpur to take stock of the situation and finalise strategy for a nationwide movement," CAIT Secretary General Praveen Khandelwal said in a statement.
 
The traders have been opposing the deal as the fear that the deal will give Walmart a back entry through e-commerce into the offline trade thereby hampering the business of several traders across the country.