Wal-Mart CEO meets Anand Sharma at Davos amidst probe into lobbying
25 Jan 2013
Doug McMillon, CEO of Wal-Mart International, has met union minister of commerce, industry and textiles Anand Sharma at Davos, on Thursday, even as the Indian government ordered a probe into the alleged lobbying activities by the global retailer in India.
McMillon is reported to have told the Indian minister that Wal-Mart was ''excited about India'' and that the retail giant is studying the conditions before making the final announcement.
Sharma has assured Wal-Mart that the change in India's policy on FDI in multi brand retail is final and that the foreign investor need not be unduly concerned about any policy reversal.
Sharma also asked the company to send request for clarification, if any, in writing to his ministry. ''All necessary clarity will be provided,'' assured Sharma.
Meanwhile, the union cabinet, also on Thursday, announced the appointment of a one-man commission to enquire into the media reports concerning Wal-Mart's alleged lobbying activities in India.
The committee has been asked to inquire into recent media reports on disclosures of Wal-Mart before the US Senate regarding their lobbying activities.
The committee will confirm whether Wal-Mart had undertaken any activities in India in contravention of any law as also on any other matter relevant or incidental to the lobbying activities.
The committee has been asked to submit its report within three months.
