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Wal-Mart paid millions of dollars in bribes in India
By: Tupaki Desk | 19 Oct 2015 4:10 PM GMT
In a new stunning revelation it came out that World's largest retailer Wal Mart made payments towards thousands of small bribes totalling millions of dollars to local officials in India. The bribes were paid in Millions to facilitate its Indian Operations.
According to a report by the Wall Street Journal (WSJ) the American retailer paid bribes which were ranging from $5 to $200 to local officials in India. The bribes were paid to clear goods through customs or for securing real estate permits. The report said that when added together all the bribes paid were totalled millions of dollars.
Walmart, who worked closely with UPA regime for opening of the multi-brand retail sector in India was also involved in lobbying before the U.S. Congress; added the reports
Federal investigators found this during the course of its probe into allegations of corruption at Wal-Mart Stores Inc's operations in Mexico.Wal-Mart India Vice President and Head said that they are co-operating fully with the government in this matter and can't comment further on that process.
According to a report by the Wall Street Journal (WSJ) the American retailer paid bribes which were ranging from $5 to $200 to local officials in India. The bribes were paid to clear goods through customs or for securing real estate permits. The report said that when added together all the bribes paid were totalled millions of dollars.
Walmart, who worked closely with UPA regime for opening of the multi-brand retail sector in India was also involved in lobbying before the U.S. Congress; added the reports
Federal investigators found this during the course of its probe into allegations of corruption at Wal-Mart Stores Inc's operations in Mexico.Wal-Mart India Vice President and Head said that they are co-operating fully with the government in this matter and can't comment further on that process.
