'TCS, RIL paid huge money to Obama's aide' | world | Hindustan Times
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'TCS, RIL paid huge money to Obama's aide'

world Updated: Apr 05, 2009 17:58 IST
Reliance Industries

India's top-most corporate entity Reliance Industries and Tata group firm TCS are among firms which paid thousands of dollars to US President Barack Obama's top economic adviser Lawrence Summers either for his association with the firm or for giving speeches, say reports.

According to the financial disclosure reports made public by the White House, Summers earned millions of dollars over the past year for being part of the advisory board and for giving speeches to various financial institutions, including some of those which were later rescued under the government's bailout programme.

Out of two Indian companies, Tata Consultancy Services paid the Director of Obama's National Economic Council $67,500 for an engagement in September 21, 2008, Internet newspaper Huffingtonpost reported.

Reliance Industries was listed under the section wherein compensation in excess of $,000 was paid by the Indian corporate giant to Summers for being the membmer of the International Advisory Board, Huffingtonpost added.

Summers was paid a whopping $2.7 million as speaking fees for more than 40 appearances before different organisations and companies.