Sunday, February 3, 2013

Wal-Mart continues lobbying in US for India entry

Wal-Mart continues lobbying in US for India entry

Amid a probe being initiated into Wal-Mart's US lobbying with regard to its India
entry, the global retail giant has continued to lobby with the
American lawmakers on this issue, as also others, and spent a
total amount of USD 6.13 million on the same during 2012.

          As per the latest Congressional records of lobbying
disclosure reports, the US-based Wal-Mart Stores spent a total
amount of USD 1.48 million (about Rs eight crore) on lobbying
for various issues, including on "discussions related to FDI
in India", during the last quarter ended December 31, 2012.
          This has taken the total lobbying bill of the company for
entire 2012 to USD 6.13 million (about Rs 33 crore), the
lobbying disclosure records available with the US Senate show.
          Wal-Mart has been lobbying with the US lawmakers on dozens
of issues every quarter, whose disclosures it is mandatorily
required to make under the American regulations.

            Recently, the Indian government initiated a probe into the
lobbying activities by Wal-Mart in the US for gaining access
to Indian market, after disclosures about these activities
caused a furore and a political debate in India.
            The company has, however, maintained that these
disclosures have nothing to do with political or governmental
contacts with India government officials and they only show
that Wal-Mart's business interest in India was discussed with
the US government officials along with many more other topics.
            Wal-Mart has been waiting for years to open its
supermarkets in India and it has been lobbying with the US
lawmakers since at least 2008 to facilitate its entry into the
highly lucrative Indian market.
            Its total bill on these activities has now crossed USD 34
million (about Rs 180 crore) since 2008, which has been
incurred on account of lobbying for more than 50 issues every
quarter, including the issues related to "enhanced market
access for investment in India". 

No comments:

Post a Comment