Bharti Walmart denies spending money in India for market access
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Bharti Walmart denies spending money in India for market access

Last Updated: Monday, December 10, 2012, 21:17
 
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Bharti Walmart denies spending money in India for market access
New Delhi: Bharti Walmart Monday denied allegations that money was spent by the global retail giant in India to gain market access here.

"These allegations are entirely false. In accordance with US law, US companies are required to disclose the issues and expenditures associated with lobbying on a quarterly basis," a Bharti Walmart spokesperson said in a statement about Waltmart filing a lobbying disclosure report before the US Senate.

The expenditures are a compilation of expenses associated with staff, association dues, consultants and contributions spent in the US, it added.

"Our Washington office naturally had discussions with US government officials about a range of trade and investment issues that impact our businesses in the US and worldwide and disclosed this in accordance with the law," the official said.

Following reports that WalMart spent USD 25 million (about Rs 125 crore) since 2008 on its various lobbying activities, including on the issues related to "enhanced market access for investment in India", BJP and Left parties have alleged that money has been spent in India.

Bharti Walmart Private Limited is a joint venture between Bharti Enterprises and Walmart, the world's leading retailer.

PTI


First Published: Monday, December 10, 2012, 21:17


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