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Business News/ Industry / Retail/  Panel on Wal-Mart to meet on 10 April
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Panel on Wal-Mart to meet on 10 April

The meeting is likely to be attended by the top executives of the Wal-Mart

The government had set up the panel to look into reports of Wal-Mart’s lobbying activities among the American lawmakers for foraying into the high-growth Indian market. Photo: Getty Images/AFP (Getty Images/AFP)Premium
The government had set up the panel to look into reports of Wal-Mart’s lobbying activities among the American lawmakers for foraying into the high-growth Indian market. Photo: Getty Images/AFP
(Getty Images/AFP)

New Delhi: A government-appointed probe panel, looking into Wal-Mart’s lobbying among US lawmakers for facilitating its India entry, will meet next week to discuss the details provided by the global retailer in this matter.

The meeting, expected to be held on 10 April, is likely to be attended by the top executives of Wal-Mart as well, people with knowledge of the matter said. This will be the fourth meeting of the committee since its inception in January.

The panel, headed by former chief justice of Punjab and Haryana high court Mukul Mudgal, during its last meeting on 22 March had sought full details about Wal-Mart’s lobbying activities in the US with regard to plans to enter India.

The last meeting was attended by Wal-Mart Asia president and CEO Scott Price, along with other representatives of Wal-Mart Asia and Bharti Wal-Mart Private Ltd. Besides, officials from the corporate affairs ministry and department of industrial policy and promotion (DIPP) were also present.

While the committee has been asked to submit its report to the government by 30 April, people with knowledge of the matter said that its tenure could be extended further depending on the progress of probe.

“The required information is being gathered. Once that is done then they would be checked to ascertain whether there was any violation...it is likely to take some more time before the report is finalized," they said.

In the wake of intense political pressure, the government had set up this panel to look into reports of Wal-Mart’s lobbying activities among the American lawmakers for foraying into the high-growth Indian market.

The committee is also looking into “whether Wal-Mart undertook any activities in India in contravention of any Indian law", and any other matter relevant to this issue. The panel, to which the corporate affairs ministry is providing administrative support, is also discussing responses received to a public notice put out by it, wherein the government had solicited information from the general public on the matter.

Separately, the regulatory agencies are also probing allegations of bribery against Wal-Mart in India. In the wake of reports about Wal-Mart’s lobbying among the US lawmakers since 2008 for facilitating its entry into Indian market, the government in December 2012 had assured Parliament to get the matter probed by a retired judge. In the meantime, Wal-Mart has continued to lobby with the American lawmakers on issues related to foreign investment norms in India, as also others, and spent a total amount of $6.13 million on the same during entire 2012.

As per Congressional records of lobbying disclosure reports, the company spent a total amount of $6.13 million (about 33 crore) on lobbying for various issues, including on “discussions related to FDI in India", during entire 2012.

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Published: 07 Apr 2013, 11:39 PM IST
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