Tuesday 25 January 2022
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Retailers to move CCI against WalMart’s acquisition of Flipkart

The online retailers body alleged that Flipkart India Pvt Ltd is a wholesale dealer who own brands such as Billion, Marq, Smartbuy etc

New Delhi: Retailers have joined hands to approach fair trade regulator CCI against $16 billion Walmart-Flipkart deal as they apprehend that it would lead to massive job loss and be a “nightmare for trade” of the country.

Traders body CAIT in a strongly worded statement alleged ruling party BJP of bias towards multinational companies and deviating from its commitment made in 2014 election manifesto.

Khandelwal alleged that the government has not taken any step to consult traders despite lodging their objections with the ministry.

“Such an attitude indicates the turning balance towards MNCs at the cost of ignoring the domestic trade. It is much against the BJP manifesto of 2014 which has committed no encouragement to in retail. It appears that government has taken a U-turn on its declared commitment,” he said.

The Confederation of All India Traders (CAIT) said that it will move fair trade regulator CCI to file objections on the proposed Walmart-Flipkart deal, claiming that the agreement would lead to an uneven playing field and massive job losses.

On the other hand, an sellers industry body also moved the Competition Commission of India against Flipkart India Pvt Ltd, a wholesale company, for allegedly abusing its dominant position on Flipkart’s online marketplace.

Global giant Walmart had last week approached the Competition Commission of India (CCI) for approval of its proposed acquisition in Flipkart, saying the deal doesn’t raise any competition concerns.

Walmart proposes to acquire 77% stake in the homegrown e- firm with a buyout of $16 billion.

Opposing the deal, the CAIT also wrote to Minister Suresh Prabhu and sought to know what steps the government has taken to scrutinise the deal.

The traders’ body alleged that the deal involves important issues related to FDI policy, cybersecurity, apprehension of using e- for entering the trade by circumventing the law.

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