Traders not so happy

NEW DELHI: Walmart's acquisition of Flipkart faced opposition from traders and an RSS affiliate. The Confederation of All India Traders (CAIT) said the deal is nothing but a clear attempt to control and dominate the retail trade in India by Walmart through e-commerce in the long run. RSS-affiliate Swadeshi Jagran Manch alleged that Walmart was "circumventing" rules for a "back-door entry" into India and sought Prime Minister Narendra Modi's intervention to safeguard "national interest". "This will further eliminate small and medium businesses, small shops, and opportunity to create more jobs. Most of these small entrepreneurs are already battling for their existence; entry of Walmart will further create problems for them," the co-convenor of the manch saidr. Retailers Association of India while staying away from commenting directly on the acquisition, said some ecommerce companies in India have been flouting FDI Policy for marketplaces. "Digitally powered e-Walmart will certainly vitiate the e-commerce and retail market. There will be an uneven level playing field to the disadvantage of retail traders. Only the venture capitalist, investors and promoters will be benefitted and not the country," CAIT said. CAIT Secretary General Praveen Khandelwal said the government should frame a national policy for e-commerce and constitute a regulatory authority to regulate e-commerce business in India.