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Shopkeepers, traders to protest Walmart's Flipkart buy across India today

Walmart in May announced it was acquiring roughly 77% of Flipkart, a deal which now awaits the approval of the Competition Commission of India

Reuters  |  Mumbai 

A lobby group of small Indian traders and shopkeepers has asked tens of thousands of its members to hold protests across the country on Monday against Walmart Inc's proposed $16-billion acquisition of e-commerce firm Flipkart.  The Confederation of All India Traders (CAIT) says the US retail giant's buyout of Bengaluru-based Flipkart will create a monopoly in the retail market and drive small store-owners out of business. Praveen Khandelwal, the secretary general of CAIT, told Reuters he expected a million people in all to join Monday's sit-in protests across ...

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First Published: Mon, July 02 2018. 13:04 IST