Wall-Mart’s lobbying to enter Indian market reaches $25Mn: Upper House (Rajya Sabha) proceedings disrupted after the report’s release


– Wall-Mart has disclosed in Lobbying disclosure reports submitted in US senate that it spent about $25Mn (125 crore) on lobbying process with US lawmakers to gain access of Indian Market since 2008.

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– The parties involved in the Wall-Mart’s lobbying process includes US Senate, the US House of Representatives, the US Trade Representative (USTR) and US Department of State as per the disclosure report for this quarter filed by Wall-Mart.

– Wall-Mart spent about $1.65Mn (10 crore) in last quarter on Lobbying that included “discussions related to FDI in India”.

– Following the release of this report opposition parties led by BJP in Rajya Sabha (Upper House) have staged a protest with MP Ravishankar Prasad stating the issue to be serious while the bill on FDI has recently been passed in both the houses (Lok Sabha and Rajya Sabha). He also said, “At a time when floor management in the House to get FDI in retail passed is being talked about, reports of Walmart mentioning expenditure of Rs125 crores for lobbying to enter into the lucrative Indian market are a serious matter. The decision should be put on hold, inquiry should be ordered and the government should respond,”

Source: Economic TimesDNA

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