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Flipkart’s acquisition a blow to ‘Make in India’ campaign: CPI-M
New Delhi, May 10 (IANS) The Communist Party of India-Marxist on Thursday came out strongly against global retail giant Walmart’s proposed acquisition of India’s largest e-tailer Flipkart saying it changes ‘Make in India’ campaign to ‘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,” said the CPM Politburo in a statement.
On Wednesday, Walmart Inc announced it was buying 77 per cent equity stake in Flipkart for $16 billion.
Both the Left party and the BJP have always opposed the move to allow foreign direct investment (FDI) in the country’s multi-brand retail sector but after coming into power, the BJP is facilitating the entry of foreign capital through the e-commerce route, said the CPI-M.
“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 said.
The CPI-M said it was common knowledge that Walmart sourced its products from international markets and now these will 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,” it said.
The Politburo of the CPI-M strongly condemned 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”, it said, demanding that the takeover should not be allowed.
Founded in 2007, Flipkart has led the e-commerce revolution in the sub-continent, growing rapidly and earning customers’ trust with digital technology, including artificial intelligence to hard-sell a wide range of goods spanning electronics, appliances, mobile, fashion and apparel.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.