Subscribe Register Login

Saturday, August 23, 2014, 8:31 a.m.
Top Picks - Arkansas Daily Deal

India’s Cabinet approves panel to probe Wal-Mart lobbying

By Bloomberg News

This article was published January 24, 2013 at 9:49 a.m.

— India’s Cabinet approved a retired judge to probe claims that Wal-Mart Stores Inc. broke rules as it lobbied to enter the country’s retail market.

A retired judge of the Supreme Court or former chief justice of a high court will investigate the Bentonville-based retailer, Information & Broadcasting Minister Manish Tewari said in New Delhi after a meeting of the nation’s cabinet Thursday.

Wal-Mart spent as much as $25 million since 2008 on discussions regarding its foreign investments, including in the Indian retail industry, the Press Trust of India said Dec. 9, citing company disclosure filings before the U.S. Senate. Opposition lawmakers in parliament alleged part of the money was spent in India, where paid lobbying is not allowed.

India’s parliament last month endorsed a September decision to allow foreign investment in retail stores selling more than one brand, the centerpiece of Prime Minister Manmohan Singh’s biggest embrace of foreign investment in a decade, as he seeks to revive a slowing economy.

Overseas companies including Wal-Mart, Tesco PLC and Carrefour SA are seeking to benefit from entering the world’s second-most-populous nation, where retail sales are estimated to reach $875 billion by 2017, according to a report by Associated Chambers of Commerce & Industry of India and Yes Bank Ltd.

The judge will investigate reports of Wal-Mart’s lobbying disclosures before the U.S. Senate and whether any of the retailer’s activities in India broke the law, according to a statement from the Ministry of Company Affairs on Thursday. The findings will be submitted to the government within three months, according to the statement.

Kevin Gardner, a spokesman for Wal-Mart, didn’t immediately respond to a phone call and e-mail seeking comment.

Comments on: India’s Cabinet approves panel to probe Wal-Mart lobbying

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Pipe layer

    pipe layer Kajac’s Contractors in seeks utility construction...
    LITTLE ROCK, AR

  • Site superintendent east-harding

    site superintendenteast-Harding Construction seeks commercia...
    LITTLE ROCK, AR

  • Pressure washer

    pressure washermust be able to work weekends. We are an EOE ...
    LITTLE ROCK, AR

  • Adon

    needed for 120 bed nursing facility in NLR. RN License requ...
    NORTH LITTLE ROCK, AR

  • Sytlist

    Great Clips Now Hiring StylistBryant & Benton SalonsBase Wag...
    BRYANT, AR

Search 855 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online