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No money spent on 'Indian contacts' for lobbying: Walmart

Source : ANI
Last Updated: Wed, Dec 12, 2012 05:41 hrs

US retail giant Walmart has made it clear that no money was spent on 'Indian contacts ' after the Congress-led UPA Government was alleged by the Opposition parties of accepting money from American company.

The media report had claimed that Walmart had lobbied with US lawmakers for the last four years to facilitate their entry into the Indian retail market.

It claimed that the company had spent 25 million dollars as per a report submitted in US senate. The amount is equivalent to Rs. 125 crore.

In a statement, Walmart said: "These disclosures have nothing to do with political or governmental contacts with India government officials."

Denied any wrongdoing, it said: "These allegations are entirely false. In accordance with US law, American companies are required to disclose issues and expenditures associated with lobbying on a quarterly basis.

"The expenditures are a compilation of expenses associated with US federal lobbying contacts and include staffing cost, association dues and payments made to consultants, all in the US."

The opposition parties created uproar in both houses of Parliament on Tuesday over reports of lobbying by Walmart to gain entry into India.

The government won a vote in both houses of Parliament last week on its decision to allow Foreign Direct Investment in multi-brand retail. (ANI)



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