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Traders to launch 90-day protest from Sep 15 against Walmart-Flipkart deal

The association has also called for a 'Bharat Trade Bandh' on September 28

Press Trust of India  |  Mumbai 

Walmar, Flipkart
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Traders' body Wednesday said it will launch a 90-day nationwide agitation against the $16-billion Walmart-Flipkart deal from September 15, starting from the national capital.

The association has also called for a 'Bharat Trade Bandh' on September 28.

"We are intensifying our opposition to the Walmart-Flipkart deal and foreign direct investment (FDI) in retail. We have called for a 'Bharat Trade Bandh' on 28th of this month on this issue and are launching a 90-day nationwide agitation from September 15, from Delhi," the Confederation of All India (CAIT) said in a release.

is opposed to US retail giant Walmart's proposed acquisition of 77 per cent stake in homegrown retailer Flipkart in a $16-billion deal.

It had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.

ALSO READ: Walmart completes acquisition of majority stake in Flipkart for $16 bn

Earlier, secretary general Praveen Khandelwal had alleged that the marketplace has been vitiated to a great extent in past years by several leading by indulging into malpractices including predatory pricing, deep discounting and loss funding.

Khandelwal had claimed that at a time when there is no policy for e-commerce, it would be a cake walk for Walmart to circumvent the FDI policy Press Note No 3 of 2016.

The commerce and industry ministry notifies FDI policies through press notes. Press Note 3, which was released in 2016, enlists guidelines for FDI in the sector.

It also articulated that no discounting is allowed and that no inventory ownership directly or indirectly is allowed by e-commerce marketplaces.

First Published: Wed, September 05 2018. 16:20 IST
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