Wal-Mart lobbied in US for India entry
10 Dec 2012 8:27 AM IST
Just few days after Foreign Direct Investment in retail was approved in both houses of Parliament, a fresh controversy may erupt over global retail giant Wal-Mart spending about Rs 125 crores since 2008 on its various lobbying activities within the United States of America which included scouting support for gaining entry into Indian market. This has been revealed in the lobbying disclosure reports filed by Wal-Mart with the US senate.
The company has spent close to USD 25 million (about Rs 125 crore) since 2008 on its various lobbying activities within US, including on the issues related to ‘enhanced market access for investment in India’.
In US, lobbying activities are legal but a lobbying disclosure report has to be filed in the US senate every quarter. So far in 2012, Wal-Mart has spent more than USD three million (about Rs 18 crore) on its various lobbying activities, including those related to India. As per Wal-Mart’s lobbying disclosure reports, the company has continuously lobbied for its India entry since 2008.
In the last quarter ended 30 September, 2012 itself, the company spent USD 1.65 million (about Rs 10 crore) on various lobbying issues, which included ‘discussions related to FDI in India’. During the quarter, Wal-Mart lobbied for its case with the US Senate, the US House of Representatives, the US Trade Representative (USTR) and the US Department of State, as per its latest quarterly disclosure report.
The company has spent close to USD 25 million (about Rs 125 crore) since 2008 on its various lobbying activities within US, including on the issues related to ‘enhanced market access for investment in India’.
In US, lobbying activities are legal but a lobbying disclosure report has to be filed in the US senate every quarter. So far in 2012, Wal-Mart has spent more than USD three million (about Rs 18 crore) on its various lobbying activities, including those related to India. As per Wal-Mart’s lobbying disclosure reports, the company has continuously lobbied for its India entry since 2008.
In the last quarter ended 30 September, 2012 itself, the company spent USD 1.65 million (about Rs 10 crore) on various lobbying issues, which included ‘discussions related to FDI in India’. During the quarter, Wal-Mart lobbied for its case with the US Senate, the US House of Representatives, the US Trade Representative (USTR) and the US Department of State, as per its latest quarterly disclosure report.
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