SME Times is powered by   
Search News
Just in:   • No cause for panic on debit card data breach: Official  • With reforms, India can become centre for international arbitrations: Prez  • US probing cyber attacks that disrupted Twitter, other websites  • Airtel, Vodafone, Idea fined for denial of interconnection to Jio  • ACC net profit down 29 percent 
Last updated: 10 Dec, 2012  

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

   Top Stories
» With reforms, India can become centre for international arbitrations: Prez
» Prevention of Corruption Act hampering NPA recovery: FM
» Cargo traffic at major ports grows by 5.2 pc: Govt
» India again urges US to facilitate movement of Indian professionals
» Banks block over 3 million debit cards due to ATM security breach
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 :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 65.55 63.35
As on 23 Oct, 2016
  Daily Poll
GST will benefit small and medium enterprises (SMEs)
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(7)
» Govt schemes - are they reaching SMEs(3)
» PM Modi concludes BRICS summit, calls it a success(2)
» BRICS must now walk the talk(2)
» Rs 2,000-cr credit guarantee fund for start-ups soon(2)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter