India Government Agency Probes Wal-Mart Investments
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An Indian government agency is investigating allegations that Wal-Mart Stores Inc. violated legal restrictions on foreign investment in the retail industry, Trade Minister Anand Sharma said.
The government received complaints alleging Wal-Mart invested in the retail industry before a September decision to loosen rules, Sharma told parliament today. Wal-Mart is “in compliance with India’s laws,” Arti Singh, a company spokeswoman, said in an e-mailed statement.