Thursday, December 7, 2023

Shutters down strike receives overwhelming response in Jamshedpur , traders unite in protest

Jamshedpur : Traders from across the city today joined the Bharat Bandh called by the Confederation of All India Traders (CAIT) to protest against Walmart’s acquisition of home-grown retail major Flipkart and foreign direct investment in the retail sector.

Over 1,000 shops remained closed in the three major commercial hub- Bistupur, Sakchi and Jugsalai. Members of Singhbhum Chamber of Commerce and Industry ( SCCI) led by Suresh Sonthalia, who was recently appointed as national secretary of CAIT went around Bistupur, Sakchi and Jugsalai to enforce the bandh.

” We are overwhelmed with the response. The traders voluntarily closed their shops to support the cause. On our request some of the private sector banks also downed shutters in Bistupur,” said Sonthalia adding that the bandh call was effective between 6 and 3 pm.

The wholesale market in Jugsalai was closed. Not a single shop dealing in various products opened at the Parsudih-based KrishiUtpad Bazaar Samiti( KUBS).

CAIT is opposing the US retail giant Walmart’s proposed acquisition of 77 percent stake in Bengaluru-based Flipkart in a $16-billion deal.

Last month, it had also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India’s decision to approve the deal.

Traders said that the e-commerce market place has been impaired to a great extent in past years as several leading e-commerce companies indulge in malpractices including predatory pricing, deep discounting and loss funding.

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