SME Times is powered by   
Search News
Just in:   • Diesel under-recovery falls sharply to Rs.1.33/litre  • Andhra to develop mega IT hub at Vizag  • Government promises continuous power supply  • Scientists oppose experiments on GM crops  • Ford India total sales up 24 percent in July 
Last updated: 10 Dec, 2012  

Walmart.9.Thmb.jpg Opposition wants Wal-Mart lobbying reports clarified

Walmart.9.jpg
   Top Stories
» RBI's monetary review Tuesday; likely to keep rates intact
» WTO fails to reach trade facilitation agreement
» Focus on turning job seekers into skilled workers: Pranab
» Online shopping may make malls a retail wasteland: Study
» Kerry meets Modi in prelude to Washington summit
SME Times News Bureau | 10 Dec, 2012
Opposition parties in the Rajya Sabha Monday demanded a clarification on reports of Wal-Mart lobbying in the US to open the way for foreign equity in retail trade in India.

Raising the issue during zero hour, Bharatiya Janata Party (BJP) leader Ravishankar Prasad quoted newspaper reports on a lobbying disclosure report submitted by retail giant Wal-Mart in U.S., and said that since lobbying is illegal in India, this was a case of bribery.

"There was a long debate on FDI (foreign direct investment) in retail. All major newspapers today have reports that Wal-Mart, in its lobbying disclosure report, has said Rs.125 crore was spent on lobbying," Prasad said.

"In 2012 alone, they spent US$ three million in India. Lobbying is illegal in India. This is a case of bribery," he said.

The opposition member demanded halting the decision to allow FDI in retail and initiation of an inquiry into the case.

He was joined by members from other opposition parties, including the Left and Trinamool Congress.

Minister of State for Parliamentary Affairs Rajeev Shukla then said he would convey the matter to the minister concerned.

The irked opposition, though, continued shouting and demanding a clarification, forcing Deputy Chairman P.J. Kurien to adjourn the upper house briefly for 10 minutes.

Last week, the decision to allow FDI in retail was put to vote in both houses of parliament, and passed.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
60.45
59.45
UK Pound
103.10
100.80
Euro
82.55
80.55
Japanese Yen 59.55 58.10
As on 02 Aug, 2014
  Daily Poll
Jaitley's Budget - 2014 is the best ever for Small and Medium Enterprises
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(28)
» Never cease to learn(6)
» MSME schemes - Do you know all of them?(5)
» SEBI, SIDBI join hands to aware SMEs about capital funding(4)
» SMEs face tough competition from Chinese imports: MSME Min(4)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter