Walmart Inquiry

Walmart Inquiry

The Union cabinet led by the Prime Minister today approved the one man commission inquiry on Walmart lobbying in India. The inquiry Commission would be set up under the Commission of Inquiry Act, 1951 and would submit its report within three months of its constitution. As per this act it would be obligatory for the Govt. to table the inquiry report and action taken report in the Parliament.

The terms of reference of the Committee are as follows:-

(i) To inquire into recent media reports on disclosures of Wal-Mart before the US Senate regarding their lobbying activities and details.

(ii) Whether Wal-mart undertook any activities in India in contravention of any Indian law.

(iii) Any other matter relevant or incidental to the above.

The Minister meets Walmart CEO

Here is the official statement by Govt of India:

“Mr Doug McMillon, CEO Walmart International met Union Commerce Industry and Textiles Minster Shri Anand Sharma at Davos today and conveyed that Walmart is ‘excited about India’ and they are studying the conditions before making the final announcement.

Shri Sharma said that India’s Policy on FDI in Multi Brand retail has finality and they need not be unduly concerned about any policy reversal. Shri Sharma also asked them to send request for clarification, if any, in the written form to his Ministry. All necessary clarity will be provided, assured Shri Sharma.”

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