CAIT threatens nationwide agitation over Walmart-Flipkart deal
![According to sources, the revenue department will write to Flipkart seeking the share purchase agreement that the company had entered into with Walmart to calculate the tax liability. According to sources, the revenue department will write to Flipkart seeking the share purchase agreement that the company had entered into with Walmart to calculate the tax liability.](https://images.deccanchronicle.com/dc-Cover-f7s8i3486nf62vdgle6f5fnp93-20180514021610.Medi.jpeg)
New Delhi: Retail trader body Confederation of All India Traders (CAIT) has threatened nationwide agitation if the government clears USD 16 billion Walmart-Flipkart deal.
"Since last five years we are knocking the doors of the government for bringing reforms in e-commerce but all has gone to deaf ears which encouraged Walmart to buy Flipkart and enter into retail trade indirectly," CAIT said in a statement.
The deal will increase malpractices manifold in e-commerce spectrum, it said. The basic fundamentals of the deal are based on circumvention of the law with an underlying object to exploit, manipulate and control the retail sector including e-commerce, it added.
Last month, the US retailer Walmart Inc announced acquisition of 77 per cent stake in Flipkart in its biggest takeover till date. The deal values the 11-year old Indian e-commerce firm at USD 20.8 billion.