Objections to Flipkart deal

Traders’ body CAIT said on Sunday it is moving the Competition Commission of India (CCI) for filing its objections to the $16-billion Walmart-Flipkart deal. CAIT has also conveyed this to Union Commerce Minister Suresh Prabhu. It sought to know what steps the government has taken to scrutinise the deal. Given the important issues of FDI policy, cyber security, apprehension of using e-commerce to enter into retail trade by circumventing the law and so on, the government must rise to the occasion and scrutinise the deal in depth, CAIT General- Secretary Praveen Khandelwal said in a statement here.

This comes on the heels of the Walmart and Flipkart’s submission to CCI on Friday, stating that the proposed transaction between the two does not give rise to competition concerns.