Demanding scrapping of the US-based Walmart’s deal to buy Indian retailer Flipkart and in protest against Foreign Direct Investment (FDI) in the retail sector, the Confederation of All India Traders (CAIT) called for Bharat Bandh on September 28. Larger sections of business establishments in Assam, including in the capital city Guwahati, have remained shut in view of Bharat Bandh.
#InPics | Shops and business establishments, including shopping malls, down shutters in #Guwahati during the nationwide #BharatBandh called by the Confederation of All India Traders (CAIT) against Walmart's acquisition of Flipkart and FDI in retail sector. pic.twitter.com/8GdueTMuIo
— NEWS LIVE (@NewsLiveGhy) September 28, 2018
All wholesale and retail markets in Guwahati, including Panbazar, Bhangagarh, Paltanbazar remained closed today.
The CAIT has been opposing the US retail giant Walmart’s proposed acquisition of 77 percent stake in Bengaluru-based Flipkart in a $16-billion deal. Last month, it had also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India’s decision to approve the deal.
Earlier, CAIT secretary general Praveen Khandelwal had alleged that the e-commerce market place has been impaired to a great extent in past years as several leading e-commerce companies indulge in malpractices including predatory pricing, deep discounting and loss funding.
Khandelwal had claimed that at a time when there is no policy for e-commerce, it would be a cake walk for Walmart to circumvent the FDI policy Press Note No 3 of 2016. In January, the Union Cabinet decided to allow 100 percent foreign direct investment (FDI) in single brand retail under automatic route, and also eased local sourcing norms.