India: small traders hold sit-in protest against Walmart's Flipkart buy
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NEW DELHI: In India, a group of small Indian traders and shopkeepers are holding sit-in protests across the country today against Walmart Inc’s proposed sixteen billion dollars acquisition of e-commerce firm Flipkart.
Confederation of All India Traders says U.S. retail giant’s buyout of Bengaluru-based Flipkart will create a monopoly in retail market and drive small store-owners out of business.
Secretary general of CAIT, Praveen Khandelwal told reporters in Mumbai that this is first phase of protest and if government does not listen we will decide our future course of action at our national convention in Delhi later this month.
