Wal-mart's entry should be banned for illegal lobbying

11 December, 2012

Even though the global retail-giant Wal-mart confessed to spending a sum of Rs 125 crores on lobbying for entry in India, Union government has managed to get the bill relating to 'Foreign-Direct-Invest' (FDI) in India passed by the Parliament despite the fact that some parties voting for the Bill openly opposed the Bill.

THERE HAVE also been reports that unaccounted money of Indians in foreign banks abroad is coming back to India under fear of possible Wikileaks disclosure. All these aspects lead to doubt about something rotten behind a dramatic passage of the controversial bill despite the fact that countries having earlier allowed Wal-mart did not enjoy good experience.

It is possible that unaccounted foreign money of Indians might have been managed to be invested in India through FDI.

Since passing of the Bill by Indian Parliament cannot be challenged even though in a suspicious manner, most logical reason to ban Wal-mart should be based on its confession of spending on lobbying in the country, which is illegal here.

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COMMENTS (1)

Guest

Haider

FDI in retail doesn't mean only license to Wal Mart to open its shops in India. There is much more about FDI in retail sector than only Wal Mart. I haven't come across a single good report from anyone on the subject discussing negative and positive. Everybody is talking merely on the basis of assumption rather than any solid proof. Opposition is talking it as whole country is going to be decimated by these companies in India whereas supporting parties are arguing so much good about FDI in retail as it is only thing which is going to change the fate of this country. This whole discussion is useless. We should concentrate our discussion more on real problems rather just discussing the things which is merely going to affect 1% of our total GDP.