Walmart says Flipkart deal in line with India's FDI policy

09 Jul '18

1 min read

As Indian traders protest against the deal between Walmart and Indian e-commerce firm Flipkart, the former has defended its move to acquire the latter, saying it is in line with the India’s foreign direct investment (FDI) policy and will boost manufacturing by providing thousands of local suppliers access to consumers through the marketplace model.

The Confederation of All India Traders (CAIT), which has been demanding that the government scrap the deal and constitute a regulatory authority to regulate and monitor the country’s e-commerce market, organised mass protests in different parts of the country against the deal early this week.

The combined capabilities of both the companies will create India’s leading e-commerce platform and benefit the country by providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers, and women entrepreneurs, a news agency reported quoting a Walmart statement.

CAIT secretary general Praveen Khandelwal, however, feels Walmart will create an ‘unfair competition and uneven level playing field’ and ‘will indulge in predatory pricing, deep discounts and loss funding’. (DS)

Fibre2Fashion News Desk – India

More Wal-Mart News... More Apparel/Garments News - India...