Mumbai/New Delhi — Indian shopkeepers and traders affiliated to a local lobby group held small sit-in protests across the country on Monday against Walmart’s proposed $16bn acquisition of e-commerce company Flipkart. The Confederation of All India Traders (CAIT) had hoped to gather a million protesters at various cities to voice opposition to the deal, but the numbers were far fewer. "This is the first phase of our protest. And if the government doesn’t listen, we will decide our future course of action at our national convention in Delhi later this month," Praveen Khandelwal, CAIT secretary-general, told Reuters. The group says the US retail giant’s buyout of Bengaluru-based Flipkart will create a monopoly in the retail market and drive small, independent stores out of business. India allows 100% foreign direct investment in e-commerce firms that operate on an online marketplace-based model. Small businesses The sit-in in Delhi, where CAIT is based, attracted just about 50 traders ...
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