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Spent force

Source : BUSINESS_STANDARD
Last Updated: Wed, Dec 12, 2012 21:35 hrs

The money spent by Walmart on lobbying has rocked Parliament, but the relatively modest amount involved has caused laughter in some quarters. An industry insider pointed out that Bharti, the Indian partner of Walmart in its cash-and-carry or wholesale venture, is more focused on the $1-billion initial public offering of its tower company at this point, and has no time to focus on the $25-million lobbying charges that the American retail chain reportedly paid since 2008 for various markets, including India. Meanwhile, many of those watching the “much-ado” over Walmart lobbying, disclosed to the US Senate as part of a quarterly exercise, are wondering at the furore over $25 million paid to lobbyists by a company whose 2012 revenues were $444 billion.




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