Flipkart deal in line with govt’s FDI policy: Walmart

TIL Desk/Business/New Delhi/ US retail giant Walmart has defended its move to acquire Flipkart, saying it is in line with the government’s FDI policy, amid protests by traders against the deal. The acquisition will boost manufacturing in India by providing thousands of local suppliers access to consumers through the marketplace model, the company said in a statement.

The Confederation of All India Traders (CAIT), a body of traders, today organised mass protests in different parts of the country against the Walmart-Flipkart deal. CAIT has been demanding the government to scrap the deal and constitute a regulatory authority to regulate and monitor the country’s e-commerce market.

“This partnership (with Flipkart) will support SME suppliers, farmers in the country to get access to the market through this platform and boost local manufacturing in India,” Walmart said in a statement.