New Delhi, July 3 (KNN) A day after lakhs of traders from hundreds of cities across India staged protest against the Walmart-Flipkart deal, the US retailing giant said the deal will create new skilled jobs and bring fresh opportunities for small suppliers, small and marginal farmers, and women entrepreneurs.

The protesters, under the umbrella of traders’ apex body Confederation of All India Traders (CAIT) demanded that the government scrap the deal and formulate a policy on e-commerce to regulate and monitor the industry.

Meanwhile, Walmart said the combined capabilities of Flipkart and Walmart will create India’s leading e-commerce platform.

“This will benefit India by providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, small and marginal farmers, and women entrepreneurs,” said SVP and chief corporate affairs officer of Walmart India, Rajneesh Kumar, as quoted by TOI.

Strongly objecting the merger of two big companies CAIT National President B.C.Bhartia & Secretary General Praveen Khandelwal on Monday said that Walmart which is world's largest retailer will create an unfair competition and uneven level playing field and will indulge in predatory pricing, deep discounts and loss funding.

They further added that the Flipkart is a combination of predation, exclusive tie-ups and of preferential sellers where even online vendors face discriminatory conditions and Walmart being the owner by virtue of 77% share is bound to give preference to its inventory.

There will be denial of market access to non-preferred sellers coupled with complete destruction of small time traders on offline platform, they added.

With the merger of two, their market share would rise exponentially and pure offline retailers / wholesalers would have two options either exit the market or sell their goods on filpkart.com and face discriminatory terms and conditions from flipkart in comparison to its preferred sellers, said CAIT.

This will create an unhealthy competition much to the disadvantage of both offline and online sellers, it added.

Calling Walmart another version of The East India Company, CAIT said that it is highly regretted that some of the people for just merely earning the profit have sold major chunk of e-commerce to Walmart.

It will source globally the cheapest material and will dump in the Country to wipe out the Competition. Sadly as of now no rule or law exist which can put restrictions on such practices of any Company, CAIT pointed.