Upset over Walmart-Flipkart deal, the Confederation of All India Traders (CAIT), the leading advocate for small traders and retail businesses in India, is planning to approach the Supreme Court if the government gives its nod to the deal.
The CAIT has been raising its voice against USD 16 billion Walmart-Flipkart deal in order to save traditional retailers in India.
Earlier it claimed that the deal would take a toll on jobs, lead to uneven playing field and turn out to be a nightmare for the retail businesses in India.
According to CAIT Secretary General Praveen Khandelwal the government should take measures to stop Competition Commission of India (CCI) from approving the deal.
Khandelwal will take up the issue with Union Ministers Smriti Irani, Nirmala Sitharaman and Suresh Prabhu, during the three-day National Traders’ Conclave, which began on July 23 in New Delhi.
Retail trade, e-commerce, taxation structure and ‘direct selling’ business in the country are slated to be discussed during the event expected to be attended by around 1500 leading trade leaders from all states.
“The traders’ will plan further protests in case the deal is cleared,” he added.
However, Walmart has stated that the deal fulfills the criteria of government’s FDI policy which allows 100 per cent FDI under the automatic route in the marketplace e-commerce model.
It is pertinent to mention here that the US-based retail giant Walmart inked a deal worth around US $ 16 billion to buy 77 per cent stake in Indian e-retailer Flipkart.
Contrary to CAIT’s worry of people losing jobs post the tie-up, Walmart CEO Doug McMillon had claimed that their investment would benefit India by providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers and women entrepreneurs.
Walmart had earlier claimed of creating 10 million jobs in India after the deal.
