Walmart-Flipkart deal flouting FDI norms: Trade lobby groups
Amid acquisition talks between Walmart and Flipkart, the swadeshi lobby led by Swadeshi Jagran Manch has opposed the deal with support from some trade lobby groups. The lobby's national co-convenor Ashwani Mahajan said the deal is in violation of Indian laws, as FDI in e-commerce is not allowed. "The foreign entities will kill competition and flush small retailers," he added.