Wal-Mart paid millions of dollars in bribes in India
Washington, Oct 19 (PTI) America's multinational retail corporation Wal-Mart is suspected to have paid bribes worth millions of dollars in India, according to a media report.
In a major report, The Wall Street Journal said Wal-Mart's "suspected bribery" unearthed in India involves thousands of small payments to low-level local officials to help move goods through customs or obtain real-estate permits.
"The vast majority of the suspicious payments were less than USD 200, and some were as low as USD 5, the people said, but when added together they totalled millions of dollars," the daily said.
In 2013, Wal-Mart shelved plans to open retail stores in India by severing a joint venture with Bharti Enterprises Ltd and instead decided to become solely a wholesaler there, th...