Moneycontrol
Last Updated : Sep 14, 2018 06:16 PM IST | Source: Moneycontrol.com

Walmart-Flipkart deal: CAIT to launch nationwide protest on Saturday

The offline merchant association will start the protest from one of Delhi's oldest markets - Chandni Chowk.

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Confederation of All India Traders (CAIT) on Friday announced it will begin its nationwide protest against the $16 billion Flipkart-Walmart deal in the Capital on Saturday.

The offline merchant association will start the protest from one of Delhi's oldest markets - Chandni Chowk.

CAIT has also called for a "Bharat Trade Bandh" on September 28.

The merchants plan to travel across the country in the next 90 days covering 22,000 kilometers. The aim is to unite merchants against foreign direct investment besides the Flipkart-Walmart deal in India.

"Not only the traders but even farmers, transporters, small industries, consumers, hawkers and other sections of Indian retail trade will join the agitation," CAIT said in a statement.

After an appeal by CAIT last week, the National Company Law Appellate Tribunal (NCLAT) also asked Walmart and Flipkart to explain their way of doing business in India.

CAIT had filed a petition in the NCLAT against CCI's nod for the Walmart-Flipkart deal.

Walmart has been asked to file a reply by September 20

CCI approved the Walmart-Flipkart deal in August citing that the two parties were not close competitors in the B2B sales nor did they have a combined market share that could raise any competition concern.

The offline merchant association however has been crying foul.

The 90-day protest is expected to conclude on December 16 at Ramlila Ground with a rally.

The protest will also see participation from All India Online Vendors Association (AIOVA) and RSS-affiliated Swadeshi Jagaran Manch.
First Published on Sep 14, 2018 04:57 pm
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