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Walmart's takeover of Flipkart does not create an entity with a monopoly position in online or offline retail in India Photo: Mint
Bengaluru: Merchants and Traders condemned against the acquisition of Flipkart by Walmart for $ 16 billion decided to oppose each transaction and appeal to the Supreme Court if necessary to defend their interests
. The Confederation of Indian Traders (CAIT) declared Mint that the lobby would aggravate the situation if the Competition Commission of India (ICC) ruled in favor of the transaction and if the government did not block the transaction.
On Monday, thousands of CAIT affiliate traders and merchants organized protests across the country, arguing that the deal would push small and medium retailers offline and traders out of business.
Praveen Khandelwal, General Secretary of CAIT, said that the body of traders had requested an appointment with the Ministry of Commerce to discuss the matter and push for the agreement to be blocked
"We we were waiting for the government to reject this agreement, I have not heard from them … we will fight tooth and nail and, if necessary, bring this case to the Supreme Court ", declared Khandelwal to Mint .
In May, CAIT, one of the country's largest merchant groups, filed a petition with the antitrust authority CCI, protesting the Walmart-Flipkart deal on the grounds that redemption creates an uneven playing field for sellers. .
Prior to CAIT's application, Walmart had written to CCI for approval of the transaction, saying that it did not raise any competition concerns and that the deal at large Retail market in India was not affected by the deal.
Despite the protests, most badysts and experts are waiting for the deal to be concluded.
Walmart's takeover of Flipkart does not create an entity with a monopoly position in online or offline retail in India. he remained confident that the deal would pbad and that the combination of Walmart and Flipkart would actually create more jobs and provide benefits to small suppliers and farmers.
"We believe that the combined capabilities of Flipkart and Walmart will create the e-commerce platform.This will benefit India by providing quality and affordable products to its customers, while creating new skilled jobs and new opportunities for small suppliers, farmers and women entrepreneurs At the same time, Walmart will continue to invest in the agricultural supply chain Rural farms generate more revenue – especially for farmers. small farmers – mainly due to improved farming techniques, market access and food waste in the value chain from farm to fork, "Walmart said Monday.
Before to deal with Flipkart, Walmart has not experienced a particularly soft march in India.
In 2007, Walmart had established a joint venture with Bharti Enterprises L td for wholesale stores. Bharti left the joint venture six years later.
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