MUMBAI: Traders' frame CAIT Wednesday mentioned it's going to launch a 90-day nationwide agitation in opposition to the $16-billion Walmart-Flipkart deal from September 15, ranging from the nationwide capital.
The association has also known as for a 'Bharat Trade Bandh' on September 28.
"We are intensifying our opposition to the Walmart-Flipkart deal and foreign direct investment (FDI) in retail. We have called for a 'Bharat Trade Bandh' on 28th of this month on this issue and are launching a 90-day nationwide agitation from September 15, from Delhi," the Confederation of All India Traders (CAIT) mentioned in a release.
CAIT is adverse to US retail large Walmart's proposed acquisition of 77 in step with cent stake in homegrown store Flipkart in a $16-billion deal.
It had remaining month additionally filed a petition in National Company Law Appellate Tribunal (NCLAT) in opposition to the Competition Commission of India's decision to approve the deal.
Earlier, CAIT secretary normal Praveen Khandelwal had alleged that the e-commerce marketplace position has been vitiated to an ideal extent in past years by means of several leading e-commerce firms by means of indulging into malpractices including predatory pricing, deep discounting and loss funding.
Khandelwal had claimed that at a time when there is not any coverage for e-commerce, it will be a cake walk for Walmart to bypass the FDI coverage Press Note No three of 2016.
The trade and business ministry notifies FDI insurance policies via press notes. Press Note three, which was launched in 2016, enlists tips for FDI within the e-commerce sector.
It additionally articulated that no discounting is allowed and that no stock possession immediately or not directly is allowed by means of e-commerce marketplaces.
The association has also known as for a 'Bharat Trade Bandh' on September 28.
"We are intensifying our opposition to the Walmart-Flipkart deal and foreign direct investment (FDI) in retail. We have called for a 'Bharat Trade Bandh' on 28th of this month on this issue and are launching a 90-day nationwide agitation from September 15, from Delhi," the Confederation of All India Traders (CAIT) mentioned in a release.
CAIT is adverse to US retail large Walmart's proposed acquisition of 77 in step with cent stake in homegrown store Flipkart in a $16-billion deal.
It had remaining month additionally filed a petition in National Company Law Appellate Tribunal (NCLAT) in opposition to the Competition Commission of India's decision to approve the deal.
Earlier, CAIT secretary normal Praveen Khandelwal had alleged that the e-commerce marketplace position has been vitiated to an ideal extent in past years by means of several leading e-commerce firms by means of indulging into malpractices including predatory pricing, deep discounting and loss funding.
Khandelwal had claimed that at a time when there is not any coverage for e-commerce, it will be a cake walk for Walmart to bypass the FDI coverage Press Note No three of 2016.
The trade and business ministry notifies FDI insurance policies via press notes. Press Note three, which was launched in 2016, enlists tips for FDI within the e-commerce sector.
It additionally articulated that no discounting is allowed and that no stock possession immediately or not directly is allowed by means of e-commerce marketplaces.
Walmart-Flipkart deal: Traders' body to launch 90-day protest
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Reviewed by Kailash
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September 05, 2018
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