300 Traders Protest in Guwahati
In Guwahati, one of the main cities in the northeastern Assam state, about 300 traders gathered to protest against the Walmart-Flipkart deal, reported Reuters. They also demanded simplification of the nationwide sales tax, said Rupam Goswami, vice president of CAIT.
Walmart Defends Flipkart Acquisition Amid Protests
Walmart on Monday defended its move of acquiring stakes in Flipkart sayig it was in line with India’s FDI policy, reported Firstpost.
"This partnership (with Flipkart) will support SME suppliers, farmers in the country to get access to the market through this platform and boost local manufacturing in India," Walmart said in a statement.
The company further said, "We believe the combined capabilities of Flipkart and Walmart will create India's leading e-commerce platform. This will benefit India by providing quality, affordable goods for customers while creating new skilled jobs and fresh opportunities for small suppliers, farmers, and women entrepreneurs."
The Confederation of All India Traders (CAIT) has led protests across 500 locations in the country against the Walmart-Flipkart deal raising concerns over losing business if the deal concludes.
According to The Economic Times, the protest demands Competition Commission of India’s (CCI) rejection of Walmart’s proposal to pick up a 77 percent stake in Flipkart.
- The trade body is also demanding an e-commerce policy and an e-commerce regulatory body
- Currently Walmart India operates its cash-and-carry business across 21 Best Price Modern Wholesale stores in India
- The company plans to open 50 more stores in the next few years