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Wal-Mart, US firms lobby for India foray

Amid growing political opposition in India for easing of foreign investment norms in retail, US-based companies like Wal-Mart and Prudential Financial are lobbying hard with their own lawmakers here to garner support for their Indian business expansion plans.

business Updated: Jul 29, 2012 21:45 IST

Amid growing political opposition in India for easing of foreign investment norms in retail, US-based companies like Wal-Mart and Prudential Financial are lobbying hard with their own lawmakers here to garner support for their Indian business expansion plans.

As per their latest lobbying disclosure reports filed with the House of Representatives and the Senate, US firms and groups spent millions of dollars this year towards lobbying on issues such as FDI in India, changes in Indian taxation framework and other trade-related matters.

The world’s largest retailer’s lobbyists presented Wal-Mart’s case with the Senate, the House of Representatives, the US Trade Representative and the Department of State during the last quarter, ended June 30, 2012. Wal-Mart has been lobbying among the US lawmakers since 2007 to garner support for its plans to enter India. Other major entities having spent big bucks on lobbying to trade with India are Dell Inc, Morgan Stanley, Xerox, Cargill Inc, Aerospace Industries Asso-ciation of America and Chamber of Commerce of the US.