All India Traders Calls for Strike Against Walmart-Flipkart Deal on September 28: CAIT

Flipkart founders Sachin Bansal and Binny Bansal have reportedly been served Income Tax notices over the Flipkart-Walmart deal.

New Delhi, Aug 20: The Confederation of All India Traders (CAIT) on Monday called for an all India traders strike against the Walmart-Flipkart deal on September 28.

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"We are organising a 'Bharat Trade Bandh' (All India Traders Strike) on September 28 against the Walmart-Flipkart deal. We want the government to nullify the deal as it is against the sector," CAIT Secretary General Praveen Khandelwal told IANS.

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"We have also planned a host of other activities like a mega trader protest march to gain public support against the deal."

Accordingly, the confederation has called for a 'Bharat Trade Bandh' on September 28 and a massive nationwide 'Rath Yatra' to begin on September 15 and a mega traders rally on December 16 at New Delhi.

On Saturday, Walmart Inc. acquired approximately 77 per cent stake in e-commerce major Flipkart. Accordingly, Walmart now holds approximately 77 per cent of Flipkart, while the remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp.

Walmart's investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business and both companies will retain their unique brands and operating structures in India.