Walmart-Flipkart deal will bring back East India Company: Praveen Khandelwal

Allowing companies like Walmart to operate from India will result in the return of the 'East India Company', said a top leader of a national traders' body. Shopkeepers from across the country are opposing government nods to such deals, claiming these can pose a serious challenge to their livelihood.

"Walmart-Flipkart deal is nothing but the return of East India Company in the country," said Praveen Khandelwal, national president and general secretary of Confederation of All India Traders (CAIT), which has given a call for nation-wide bandh of shopkeepers on September 28. He claimed more than 40,000 trade associations and federations will participate in the bandh and seven crore small businesses will down their shutters.

Foreign multinationals are misusing provisions to allow FDI in cash-and-carry, and that it has presented its case before the government, claimed Federation of All India Vyapar Mandal, which is organising a dharna at Jantar Mantar on Tuesday. Tarachand Kasat, national chairman of Textile Committee of the Federation said Surat is a hub for wholesale trade and will be seriously hurt if traditional retailers will lose in the new game. 

"Traders from all over India source textile products like dress material and sarees from Surat. If they will lose the fight, business in Surat will come to a grinding halt. We are participating in dharna to express our solidarity with them," said Kasat.