Walmart spent $25 mn in last 4 yrs to lobby for India entry, other cases
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Global retail giant Walmart — waiting for years to open its supermarkets in India — has been lobbying with the US lawmakers since 2008 to facilitate its entry into the highly lucrative Indian market.
As per the lobbying disclosure reports filed by Walmart with the US Senate, the company has spent close to $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".
In the last quarter ended September 30 itself, the company spent $1.65 million on various lobbying issues, which included "discussions related to FDI in India".
During the quarter, Walmart lobbied for its case with the US Senate, the US House of Representatives, the US Trade Representative and the US Department of State, as per its latest quarterly disclosure report.
The companies are allowed to lobby for their cases in various departments and agencies in the US, but they are required to file their lobbying disclosure reports every quarter with the US Senate.
So far in 2012, Walmart has spent more than $3 million on its various lobbying activities, including those related to India. As per its disclosure reports, the company has continuously lobbied for its India entry since 2008, except for a few quarters in 2009.
The Indian retail market is estimated to be worth about $500 billion currently and is pegged to cross $1 trillion mark by 2020, given the rising personal income.