You are here: Home » PTI Stories » National » News
Business Standard

Traders to protest against Walmart-Flipkart deal on July 2

Press Trust of India  |  New Delhi 

Traders' body CAIT today said it will hold protests at 1,000 places across the country on July 2 against US giant Walmart's proposed acquisition of 77 per cent stake in in a USD 16 billion deal.

The Confederation of All Traders (CAIT) took the decision today at its two-day meeting at Ahmedabad.

The traders' body passed a resolution at the conference asking the government to reject the deal. It demanded formulation of an policy and setting up of a for the country's sector.

In a statement, said: "This time we shall be pursuing the matter with both ED (Enforcement Directorate) and so that companies including and its new owner should not escape from the liability of mal-practices, predatory pricing and deep discounting."

CAIT claimed that "are grossly and openly flouting Press Note 3 of FDI Policy issued on March 29, 2016".

The commerce and industry ministry notifies FDI policies through press notes. Press Note 3, which was released in 2016, enlists guidelines for foreign direct investment in It also articulated that no discounting is allowed and that no inventory ownership directly or indirectly is allowed by

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

First Published: Mon, June 11 2018. 18:25 IST
RECOMMENDED FOR YOU