Traders across the country are up in arms against the Walmart's acquisition of Flipkart. Under the banner of their organisation CAIT, they have called for a Bharat Bandh on September 28 to oppose the US retail major Walmart's acquisition of Flipkart.
Already CAIT Secretary General Praveen Khandelwal is on record saying "the deal has "violated Press Note No 3 of 2016 of Government and is a combination with a sinister design to control and dominate the retail trade through the passage of e-commerce".
The traders believe that this can create an uneven level playing field and it may wipe out the competition due to their business module. The model entails predatory pricing, deep discounting and loss funding.
The Confederation of All India Traders (CAIT) says it will launch a nation-wide Rath Yatra on September 15 against the deal. Also, the traders' body plans to hold a mega rally in New Delhi on December 16 to protest "discriminatory treatment against traders".
The decisions were taken on August 20 at the annual general meeting of CAIT held at Nagpur. The meeting was attended by over 200 prominent trade leaders across the country. Walmart Inc has said it has completed a deal with Flipkart and now holds 77 per cent stake in the Indian e-commerce major.
Besides, the Bentonville giant's investment includes USD 2 billion of new equity funding to help accelerate the growth of the Flipkart business.