Wal-Mart Faces Protests Over Entry To India
Protesters accused the Bentonville, Ark.-based giant of circumventing Indian laws on retail to enter through the back door. âœThe livelihoods of retail traders are at stake. If big retail giants like Wal-Mart and Reliance come into the country, small traders would be finished,â said Praveen Khandelwal, general secretary of the Confederation of All India Traders in New Delhi.
The venture with Bharti gives Wal-Mart a foot in the door of what A.T. Kearney called the worldâ™s most attractive retail destination. But only 3% of a sector valued at around $350 billion and growing at 20% annually has been claimed by organized retail. Around 12 million mom-and-pop stores now collectively dominate the market.
Vegetable vendors in Mumbaiâ™s suburbs said they hadnâ™t heard of any such protest, and even if they had, wouldnâ™t have had time to spare from their daily business for the sake of demonstrations.