New Delhi
\nThe retailers association CAIT has called for nationwide traders\u2019 strike on September 28 to protest against acquisition of Flipkart by US retail giant Walmart, the traders\u2019 body said on Thursday.<\/p>\n
\u201cWe are observing Bharat trade bandh on September 28. Almost 7 crore traders across country will keep their shutters closed to protest against Walmart acquiring Flipkart,\u201d CAIT secretary general Praveen Khandelwal said.<\/p>\n
He said that the Confederation of All India Traders will approach the government to annul the deal as it violates press note 3 of 2016, which clearly says that no foreign direct investment will be allowed in e-commerce.<\/p>\n
Reacting to CAIT\u2019s call for nationwide bandh, Walmart said it remains committed to contributing to the Indian economy by supporting smallholder farmers, manufacturers, and kirana customers.<\/p>\n
\u201cFlipkart is a prominent player in India with a strong, entrepreneurial leadership team that is a good cultural fit with Walmart. We believe that the combination of Walmart\u2019s global expertise and Flipkart will position us for long-term success and enable us to contribute to India\u2019s economic growth,\u201d Walmart spokesperson said.<\/p>\n
\u201cIf need be, we will take the fight to Supreme Court. Business of traders is adversely effected because Walmart is using e-commerce platform passage as a way to infiltrate goods sourced globally by it to influence Indian retail market,\u201d Khandelwal noted.<\/p>\n
He alleged that through e-commerce Walmart will dump products in Indian retail market that it sources globally and indulge in predatory pricing and other malpractices.<\/p>\n","protected":false},"excerpt":{"rendered":"
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