Further stepping up its attack, the traders body CAIT on Monday announced that it would hold a nationwide protest on 2 July against Walmart-Flipkart deal. The Confederation of All India Traders (CAIT) declared that the protest dharna would be held across nearly 1000 places in different states, the press release issued by the traders body said. “The CAIT in a unanimous resolution passed at the Conference demanded the Government to reject the deal and an e commerce policy is framed and a Regulatory Authority is formed for e Commerce,” the release said.
CAIT said that this time the matter should be pursued both ED & RBI so that e-commerce companies including Flipkart and its newly owner Walmart not escape from the liability of malpractices, predatory pricing and deep discounting.
The traders body also said that the e-commerce market in India which remains very critical since its inception in the country due to ill designed business practices adopted by various leading e- commerce players with a single motto of controlling and dominating retail trade by offering deep discounts and predatory pricing has vitiated the basic fundamentals of e-commerce and in the absence of any policy both in e-commerce and retail trade and easily circumventing the law.
CAIT has already filed a petition with Competition Commission of India (CCI). Walmart which is the world’s largest retailer will create an unfair competition and uneven level playing field and will indulge in predatory pricing, deep discounts and loss funding, the traders body Confederation of All India Traders (CAIT). “The petition further said that Flipkart is a combination of predation, exclusive tie-ups and of preferential sellers where even online vendors face discriminatory conditions and Walmart being the owner by virtue of 77 percent share is bound to give preference to its inventory,” CAIT said.