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

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

Asked about possible timeline for multi brand entry, McMillon said it is not possible as of now to predict any timeline as it would depend on the decision taken by the "people of India and the government of India with regard to the regulations for foreign direct investment."

"We will respectfully wait, answer all questions and try to demonstrate that having Walmart in India is a good thing for the country," he had said.

After parting ways with BhartiBSE -2.92 percent group in October last year, Walmart had said it was studying the feasibility of India's foreign direct investment (FDI) policy in multi-brand retail before finalising plans to enter the segment.

In its Action Taken Report on Walmart probe, the government had said it would initiate fresh action against Walmart if an ongoing 'foreign corrupt practices' probe by US authorities reveals any violation in India by the retail giant.

Source: PTI