LIVE TV DownloadNews18 App
News18 English
»
1-min read

Traders Call Nationwide Strike on Sept 28 Against Walmart-Flipkart Deal

Almost 7 crore traders across country will keep their shutters closed to protest against Walmart acquiring Flipkart, said Praveen Khandelwal, secretary general, Confederation of All India Traders (CAIT).

PTI

Updated:September 6, 2018, 7:39 PM IST
facebookTwittergoogleskypewhatsapp
Traders Call Nationwide Strike on Sept 28 Against Walmart-Flipkart Deal
(File photo: Reuters)
Loading...
New Delhi: Retailers association CAIT has called for nationwide traders' strike on September 28 to protest against acquisition of Flipkart by US retail giant Walmart, the traders' body said Thursday.

"We 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," CAIT secretary general Praveen Khandelwal said.

He said that the Confederation of All India Traders (CAIT) 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.

Reacting to CAIT's call for nationwide bandh, Walmart said it remains committed to contributing to the Indian economy by supporting smallholder farmers, manufacturers, and kirana (grocery) customers.

"Flipkart 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's global expertise and Flipkart will position us for long-term success and enable us to contribute to India's economic growth," Walmart spokesperson said.

CAIT has challenged Walmart-Flipkart deal before National Company Law Tribunal (NCLT).

"If 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," Khandelwal noted.

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.

"Ultimately domestic manufacturing sector and the traders will lose their business because of uneven level playing field," Khandelwal added.

The CAIT is also launching a 90-days Digital Rath Yatra beginning September 15 from Delhi.

"The Digital Rath will have LEDs on its wall and audio system to address people around," Khandelwal said.


Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

| Edited by: Padmaja Venkataraman
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,235.15 -0.21
Sun Pharma 418.95 5.18
Kotak Mahindra 1,291.75 1.91
Asian Paints 1,406.95 -1.07
Yes Bank 192.20 0.13
Company Price Change %Gain
Page Industries 22,510.10 -1.84
Reliance 1,234.75 0.02
Sun Pharma 418.05 4.95
Yes Bank 192.10 0.00
Axis Bank 661.80 0.23
Top Gainers
Company Price Change %Gain
Sun Pharma 418.95 5.18
Wipro 346.50 2.58
Titan Company 982.65 2.07
Kotak Mahindra 1,291.75 1.91
Dr Reddys Labs 2,640.30 1.56
Company Price Change %Gain
Sun Pharma 418.05 4.95
Kotak Mahindra 1,291.60 1.92
Bajaj Finance 2,616.65 1.07
Hero Motocorp 2,823.85 1.05
Axis Bank 661.80 0.23
Top Losers
Company Price Change %Gain
Vedanta 191.50 -3.50
Tata Steel 456.55 -3.21
M&M 708.50 -2.99
Zee Entertain 425.25 -2.61
HCL Tech 940.75 -2.59
Company Price Change %Gain
Vedanta 191.45 -3.50
Tata Steel 456.80 -3.13
M&M 708.05 -3.08
HCL Tech 941.60 -2.18
Bharti Airtel 304.25 -2.00

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results