Traders’ body CAIT has made an announcement to hold protests at 1,000 places across the country on July 2 against US retail giant Walmart’s proposed acquisition of 77 per cent stake in home-grown retailer Flipkart in a $16 billion deal.
The Confederation of All India Traders (CAIT) took the decision on Monday at its two-day National Governing Council meeting at Ahmedabad.
“The retail sector in India requires a great amount of attention of the higher authorities. This sector touches the Indian masses and anything happening in this sector is influencing a major portion of vast Indian population. This protest is about urging the govt and concerned stakeholders to look at overall situation of Walmart-Flipkart deal and consider the perspective of common retailers,” informed a top official of CAIT.
The traders’ body passed a resolution at the conference asking the Government to reject the deal.