Wal-Mart continues lobbying in US for India entry
PRESS TRUST OF INDIA
Washington, Feb 4: 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 $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 $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 $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.
Lastupdate on : Mon, 4 Feb 2013 21:30:00 Makkah time
Lastupdate on : Mon, 4 Feb 2013 18:30:00 GMT
Lastupdate on : Tue, 5 Feb 2013 00:00:00 IST
- MORE FROM BUSINESS
Directs State To Take Necessary Steps To Impose Ban On Chewing Tobacco Items Containing Nicotine
D A RASHID
Srinagar, Feb 4: Evaluating the response of the state government to the Public Interest Litigation seeking ban on manufacture, sale, storage and distribution of gutka, panmasala and other forms of More
- Srinagar City
‘It reflects lack of vision of NC led regime’
GK NEWS NETWORK
Srinagar, Feb 4: The main opposition party Peoples Democratic Party (PDP) on Monday castigated the State Government over the vandalization of Eidgah ground saying it reflects lack of vision for development More
4 PERSONS, INCLUDING 3 HIZB MILITANTS, HELD FOR KILLING 7 YOUTH
GK NEWS NETWORK
Jammu, Feb 4: Police on Monday said it achieved a major breakthrough by arresting four persons including three former Hizbul Mujahideen (HM) militants involved in the killings of seven youth including More
- South Asia
JI launches e-mail campaign to seek UN’s attention towards K-issue
NISAR AHMED THOKAR
Islamabad, Feb 4: Terming India’s stance on Kashmir issue as “unjustified”, the Secretary General of Jammat-e-Islami Pakistan Liaqat Balooch Monday said that Kashmiris’ struggle for right to self-determination More
PRESS TRUST OF INDIA
Beijing, Feb 4: Maintaining that its move to build three more dams on Brahmaputra river in Tibet will not affect the flows to down stream areas, China today said it is in "communication and cooperation More
Muzaffarabad, Feb 4: Dozens of civil society activists staged a protest demonstration along a bustling thoroughfare here on Monday, calling upon the Chief Election Commissioner of Pakistan to take stock More
Ill-equipped departments, obsolete syllabus and inexperienced faculty worries journalism students
Um Roommana Sulaiman, 23, wants to become a successful television broadcaster like Mishal Husain of the BBC. A 4th semester student of journalism at the Islamic University of Science and Technology Awantipora More