Walmart’s $16 billion acquisition of Flipkart may have made it the world’s largest e-commerce deal, but that hasn’t stopped the CPI(M) from viewing it as a BJP conspiracy for facilitating the entry of foreign capital into the Indian retail market.

According to a report by Money Control, the CPI(M) has termed the takeover as a ‘naked betrayal’ of the BJP’s earlier stand on the issue of foreign players in retail.

"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 takeover once again exposes the naked betrayal of all promises made by the Modi government: Make in India has now become Make for India," a statement released by the party said.

The party believes that the takeover will completely destroy the retail industry in India. It has urged that the takeover should hence not be allowed.

The CPI(M) has said that since Walmart sources its products from the international market, the takeover will destroy the small and medium sector in the country.

Walmart, meanwhile, has said that Flipkart will continue to operate as a separate entity.

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