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CAIT threatens nationwide agitation over Walmart-Flipkart deal

Press Trust of India  |  New Delhi 

Retail body Confederation of All Traders (CAIT) has threatened nationwide agitation if the government clears USD 16 billion Walmart-deal.

"Since last five years we are knocking the doors of the government for bringing reforms in but all has gone to deaf ears which encouraged to buy and enter into retail indirectly," CAIT said in a statement.

The deal will increase malpractices manifold in spectrum, it said.

The basic fundamentals of the deal are based on circumvention of the law with an underlying object to exploit, manipulate and control the including e-commerce, it added.

Last month, the US retailer Inc announced acquisition of 77 per cent stake in in its biggest takeover till date. The deal values the 11-year old Indian firm at USD 20.8 billion.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, June 10 2018. 17:05 IST