[Marxistindia] Walmart Takeover

[news from the cpi(m)]

May 10, 2018

Press Statement

The Polit Bureau of the Communist Party of India (Marxist) has issued the
following statement:

Walmart Take Over: ‘Make in India’ becomes ‘Make for India’

The $ 16 billion acquisition by international e-commerce retail giant
Walmart of Indian e-retail Flipkart facilitates the backdoor entry of
foreign capital to take over India’s huge multi-crore retail trade sector.

The proposal to allow FDI in India’s multi-brand retail sector was stoutly
opposed by the Left parties. When in opposition, the BJP also opposed this
move. Now in government, the BJP is facilitating the entry of foreign
capital through the e-commerce route. This would completely destroy
India’s retail trade that employs more than four crore people directly.
Nearly one-fifth of our population is dependent on their earnings.

It is common knowledge that Walmart sources its products from
international markets. These will now be sold in India, further destroying
the small scale and medium scale sector which is the largest provider of
employment after the agricultural sector.

This takeover once again exposes the naked betrayal of all promises made
by the Modi government: Make in India has now become Make for India.

The Polit Bureau of the CPI(M) strongly condemns the sanction provided by
the Modi government to allow such an acquisition to take place which is
against the interests of our country and its people. The PB demands that
this should not be allowed.




(Hari Singh Kang)
For Central Committee Office