No Probe into Corruption Charges against Walmart in India

 

NEW DELHI   (NNN-Bernama) -- Indian Commerce Minister Anand Sharma on Sunday said there was no probe into corruption allegations against US retail giant Walmart in India, saying agencies could look into violations if any.

The world's largest retailer has disclosed that it is investigating allegations of corrupt practices and alleged violations of US anti-bribery law in India, China and Brazil, expanding similar ongoing investigations in Mexico, Press Trust of India (PTI) reported.

"Allegations are allegations. In a rule-based and rule-governed country, if there is any violation there are agencies who are there to look into it,"

Sharma told journalists on board Indian PM's Special Plane en route to Phnom Penh along with Indian Prime Minister Manmohan Singh.

"I should not comment on the alleged FEMA violations which are yet to be probed and even Finance Minister P Chidambaram has said that he is yet to get any report," Sharma said.

At the same time, he said there would have been no violations since September when the Foreign Direct Investment (FDI) decision was notified with only one change about dispensation of landlocked states which do not have cities with population of five million.

Walmart has not specified specific charges of corruption in any of the countries it has mentioned but said it is probing allegations of potential violations of Foreign Corrupt Practices Act (FCPA) of the United States.

The FCPA bars bribing officials of foreign governments.

The allegations have come at a time when the United Progressive Alliance (UPA) government is pushing hard its reform agenda, including FDI in retail.

The opposition Bharatiya Janata Party (BJP) on Saturday termed the graft allegations as a "serious issue", and demanded a probe into the matter as well as a reply by the government. -- NNN-BERNAMA