Wal-Mart seeks US help for India business

WASHINGTON: Amid growing political opposition in India to easing of foreign investment norms in retail and other sectors, US-based companies like Wal-Mart and Prudential Financial are lobbying hard with their own lawmakers here to garner support for their Indian businesses expansion plans. 


According to their latest lobbying disclosure reports filed with the US House of Representatives and the US Senate, the US-based companies and industry groups spent millions of dollars since the beginning of this year towards lobbying on issues including FDI in India, changes in Indian taxation framework and various other trade-related matters. 

Walmart stores, which has been trying to set multi brand shops in India for a long time, spent nearly $1.5 million on lobbying in the last quarter ended June 30, 2012 on various issues, including matters "related to FDI in India". 

Wal-Mart's lobbyists presented its case with the US Senate, the US House of Representatives, the US Trade Representative and the US Department of State during the last quarter. Wal-Mart has been lobbying among the US lawmakers since 2007 to garner support for its plans to enter India and its lobby issue earlier included "enhanced market access for investment" in India. 

Edited By Cen Fox Post Team

Follow @centuryfoxpost

Posted in: 30th July 2012