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By Sankalp Phartiyal and Sai Sachin Ravikumar
MUMBAI / NEW DELHI (Reuters) – Indian Traders and Traders Affiliated to a Local pressure group dispersed sit-in The Confederation of Indian Traders (CAIT) hoped to gather a million protesters in different cities across the country to protest against Walmart Inc.'s decision to buy out the e-commerce company Flipkart for $ 16 billion. "
" This is the first phase of our protest and if the government does not listen, we will decide our future action at our national convention in Delhi later this month. CAIT Secretary General Praveen Khandelwal told Reuters:
The group claims that the US giant's takeover of the Bengaluru-based Flipkart will create a monopoly on the retail market and boost small stores • India currently authorizes 100% foreign direct investment in e-commerce businesses operating according to a model based on the online market.
The Delhi sit-in, where CAIT is based, attracted around 50 traders and traders around noon.a Reuters witness.Satinder Wadhwa, a watch salesman who attended the Delhi protest, said that a money-rich Flipkart would be a major threat to small businesses like his own, which were already suffering due to a ban on high-value banknotes in December 2016 as well as a national sales tax introduced a year ago.
Guwahati, one of the main cities of the northeastern state of Assam, about 300 traders gathered to protest against Walmart. Flipkart deal, said Rupam Goswami, vice president of ACIT. They also demanded the simplification of the national sales tax, he added.
Small sit-in events also took place in various districts of the East-West Bengal State
. Walid announced in May to have bought about 77% of Flipkart, an agreement that is now awaiting the approval of India's anti-trust regulator
. At the transaction have already told Reuters that while the Competition Commission of India will consider all the arguments, the CAIT has not contested the acquisition.
Walmart, which currently operates 21 cash-and-carry stores in India, said: On Monday, he had supported local manufacturing in India by sourcing from small and medium-sized suppliers, farmers and farmers. businesses run by women.
"Our partnership with Flipkart will provide thousands of local products." Rajneesh Kumar, Senior Vice President, Walmart India, said in a statement
(Reportage of Sankalp Phartiyal and Sai Sachin Ravikumar; Additional Report by Subrata Nag Choudhury, edited by Muralikumar Anantharaman and Louise Heavens)
This story was not edited by Firstpost staff and is generated by self-feeding.
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