Traders protest against Walmart-Flipkart deal

By: | Published: July 3, 2018 2:29 AM

A group of traders today protested against US retail giant Walmart's proposed acquisition of 77 per cent stake in home-grown retailer Flipkart, as part of a nationwide stir called by an umbrella traders body.

Walmart, flipkart, US walmart, walmart takes over flipkart, delhi, delhi trader's protest, walmart flipkart dealA group of traders today protested against US retail giant Walmart’s proposed acquisition of 77 per cent stake in home-grown retailer Flipkart. (Reuters)

A group of traders today protested against US retail giant Walmart’s proposed acquisition of 77 per cent stake in home-grown retailer Flipkart, as part of a nationwide stir called by an umbrella traders body.

In Delhi, the protest was held at prominent commercial markets in Karol Bagh, Confederation of All India Traders (CAIT) said.

CAIT had yesterday given the call for the protest and, in a statement today it said that similar protests were held in other cities too, such as Mumbai, Ahmedabad, Bhopal, Chennai, Hyderabad and Lucknow.

The traders body is against Walmart’s proposed acquisition of 77 per cent stake in Flipkart in a USD 16-billion deal.

CAIT’s Secretary General Praveen Khandelwal, who took part in the protest in the city, has alleged that the e-commerce market place has been vitiated to a great extent in past years by several leading e-commerce companies by indulging into all kinds of malpractices, including predatory pricing, deep discounting and loss funding.

He said CAIT has already filed our objections in Competition Commission of India and if need arises it shall challenge the deal in the court of law.

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