All section of shops and commercial establishments in Guwahati today remained closed due to a “Bharat Vyapar Bandh” called by the Confederation of All India Traders (CAIT) on Friday in protest against the Walmart-Flipkart deal besides foreign direct investment in retail trade.
Shops including Pharmacies, restaurants, small shops were shut because of the Bandh thus creating unfortunate occurrences for roadside peddlers, vendors as well as daily buyers and customers.
The petrol pumps in the city also remained closed except one or two Hindustan Petroleum depot, which catered to the large needs of cars and buses in the city.
The Commuters in the busy city has also faced a tough time like Chakka Bandh as with public transport system run out of fuel as Petrol depots were closed on occasion of the ‘trade bandh’.
According to a media report the apex traders’ body had in its annual general meeting in August this year finalised the decision to call the country-wide bandh alleging that the deal would abolish competition as Walmart’s business module entails predatory pricing, deep discounting and loss funding.
The trade bandh nevertheless has failed to make any mark in other parts of the state as well as rest of the region.
n May 2018, U.S.-based retail chain giant Walmart announced its aim acquire a 77% controlling stake in Flipkart for $16 billion USD, subject to regulatory approval. The Completion of the deal was finally announced on August 18, 2018.
With this deal, the American retail giant Walmart is eying to revolutionize Indian retail with low prices and a vast variety of consumer goods.
Walmart had been trying to enter India for many years although strict FDI norms have so far kept its presence limited to just the cash-and-carry segment.
At present Walmart has 21 stores in India and it is looking for the expansion in future and this deal proved to be a step for its capturing Indian Market like Amazon.