Walmart denies any wrongdoing in India
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Walmart denies any wrongdoing in India

Last Updated: Wednesday, December 12, 2012, 09:45
 
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Walmart denies any wrongdoing in India
Zeebiz Bureau

New Delhi: While the UPA government is facing the heat over allegations of lobbying by Walmart, the US retail giant has denied that the money was spent on ‘Indian contacts ’.

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

Walmart had triggered a controversy in India after it revealed – as part of mandatory disclosure in the US – that USD 25 million (about Rs 125 crore) was spent, since 2008, on its various lobbying activities, including on the issues related to "enhanced market access for investment in India”.

Walmart has vehemently denied any wrongdoing.

"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," a company spokesperson said in a statement accessed by a CNN-IBN.

The spokesperson said the company had "held discussions" with US officials about a range of "trade and investment issues" that impact its businesses in the US and worldwide, and disclosed this in accordance with the law.




First Published: Wednesday, December 12, 2012, 09:17


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