New Delhi: The Retail trade body Confederation of All India Dealers (CAIT) has warns an agitation movement across the country if the government approved the USD 16 billion Wal-Mart-Flipkart deal. The CAIT said in a statement: “For the past five years we have been knocking the doors of the government to improve e-commerce, but all has become unheard and have gone to the deaf ears, which encouraged Walmart to buy Flipkart and indirectly enter into retail business.
This deal will increase malpractices manifold in the e-commerce spectrum. The fundamental principles of this deal are based on the tampering of the law with the underlying object to exploit the retail sector, including e-commerce, efficiently for control retail sector. Last month, American retailer Wal-Mart Inc. had announced to acquire a 77 percent stake in Flipkart’s largest acquisition so far. This deal is worth $ 20.8 billion to the 11 year old Indian e-commerce firm.
