After Walmart, Amazon Lobbies In U.S. For Indian FDI

By siliconindia | Monday, 03 February 2014, 10:25 Hrs

In the second quarter of 2013 also, Walmart had halted its India-specific lobbying, but resumed the same in the subsequent quarter, that is between July-September 2013.

Recently, Walmart CEO Doug McMillon told on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland that it would wait for further clarity on rules for entering the multi-brand retail business.

Walmart is currently present in India with its cash and carry business under its Best Price brand, but is yet to enter multi-brand retail business where the government has allowed 51 per cent FDI despite huge political opposition.

While Walmart is seeking further relaxation in FDI rules, a few states such as Delhi and Rajasthan have already reversed the approvals given for multi-brand FDI by their predecessors. These developments have added to the uncertainty regarding retail business FDI framework.

However, Walmart recently registered a new company, 'Wal-Mart India Private Ltd', in India earlier last month, on which Walmart CEO said that the group was positioning itself for the future.

Source: PTI