The US-based Wal-Mart Stores, one of the world’s top revenue grossers with over $400 billion of total annual sales and present in 15 countries, is lobbying hard with lawmakers here to help it expand into India, possibly through bilateral talks between the related authorities of the two countries.
As per the lobbying disclosure reports filed by the company with the US Senate, Wal-Mart has since then spent a staggering amount of over $11 million (more than Rs 52 crore) on issues related to India, as also other matters, in over two years now. In 2010 itself, the company spent $1.37 million (over Rs 6 crore) on lobbying in the first quarter. Its presence in India is limited to business-to-business (wholesale market and back-end supply chain management business through a joint venture with Bharti group.
Published 30 May 2010, 16:53 IST