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'Red carpet' for Walmart in India despite protests

Publication Date : 24-09-2012

 

Slamming Indian Prime Minister Manmohan Singh over the issue of allowing foreign direct investment (FDI) in multi-brand retail, BJP (Indian People's Party) leader L K Advani today said the red carpet was being rolled out for Walmart when it faced protests even in the US and New York City has “shut Walmart out”.

Advani also said the BJP had opposed the measure when the National Democratic Alliance (NDA) was in power. In his latest blog post, he referred to the reported unrest brewing against the USA’s largest retailer, Walmart, in various American cities at a time when the government here was “rolling out the red carpet” for it.

Quoting an article by financial expert S Gurumurthy, he said that on 14 September when Singh rolled out the red carpet for Walmart, “New York City shut Walmart out”. He also referred to an online newspaper which carried a story on how Walmart displaced nearby small businesses the day FDI in retail was notified in India last week.

“Weeks ago, on 30 June, over 10,000 people, shouting ‘Walmart equals poverty,’ marched through Los Angeles against Walmart stores,” Advani said, quoting Gurumurthy.

He also quoted a New York Times report on how Mexico has become the second-largest country for Walmart after the USA in terms of number of stores.

“This has been achieved by the retail giant’s Mexico arm dishing out generous payouts to aid its mammoth growth,” he said.

Advani said that shortly after the Times published its investigation in April, Walmart confirmed that it had launched an investigation into the “allegations of bribery at Walmart de Mexico”.

With reports from PTI

 

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