CAIT accuses Walmart of pressuring India for larger share of retail pie

The Confederation of All India Traders (CAIT) has written a letter to Prime Minister Narendra Modi accusing Walmart CEO of trying to put pressure on the government to open up the country’s retail market by making a plea for stability in business environment.

“We firmly believe there is no instability in the economic foundations or policy structure of the government. These kind of rhetoric by global players is a pressure tactic to find a headway into the large existing business potential of India’s large retail market and directly control our economy by indulging in unfair and monopolistic business practices,” the letter written by CAIT National Secretary General Praveen Khandelwal said.