The Confederation of All India Traders (CAIT) has sought Prime Minister Narendra Modi’s intervention protesting Walmart’s takeover of Flipkart, in a US $ 16 billion deal which was given the green signal by Competition Commission of India (CCI) in August this year.
The Indian trader’s body has submitted a memorandum and a Traders Charter to the prime minister requesting for his involvement in a bid to stop the deal, as according to CAIT, the deal violates Foreign Direct Investment (FDI) Policy Press Note No.3 of 2016 of the centre.
In a statement issued, CAIT has affirmed that “We have requested the prime minister to form a high-level committee under the chairmanship of a senior minister of the government along with senior officials and trade representatives.”
However, the US-based retail giant, Walmart has previously mentioned that the world record deal was in line with the centre’s FDI policy.
Notably, CAIT has been opposing the deal ever since Walmart announced that it will acquire a majority stake in the home-grown e-commerce firm Flipkart. The trader’s body recently announced that it will host a nationwide protest against the deal that took place last week and another mega rally is scheduled to take place later this year.
CAIT also announced that, around 7 crore business establishments took part in the recent ‘Bharat Bandh’ organised by the trader’s body against the move, with the majority of the markets being closed halting commercial operations. Around 8 lakh chemists pan-India also participated in the Bandh.
Bharat Tex Special Report 2026 
