that we have a violation of US law here. With regard to the Indian side, I’ll refer you to them,” state department spokesperson Victoria Nuland had said on December 11, 2012, categorically dismissing allegations by Indian opposition parties in this regard.
According to the US official, the Lobby Disclosure Act of 1995 and the Honest Leadership and Open Government Act of 2007 requires lobbyists for any company or organisation to disclose its activities in a periodic report to Congress.
Meanwhile, Wal-Mart chief executive Doug McMillon told commerce industry and textile minister Anand Sharma in Davos on Thursday that Wal-Mart was “excited about India.”
McMillon, who is the CEO of Wal-Mart International, told Sharma that the company is studying the conditions before making the final announcement of expanding its pressence in the multi-brand retail sector in India, an official statement issued by the government said on Thursday.
On his part, Sharma said that India’s Policy on FDI in multi-brand retail has finality and they need not be unduly concerned about any policy reversal. “Sharma also asked them to send request for clarification, if any, in the written form to his ministry. All necessary clarity will be provided,” Sharma assured McMillon.