Wal-Mart had paid huge bribes to Indian officials: Wall Street Journal

Hyderabad, Oct 19: The Wall Street Journal today claimed that retail major Wal-Mart had paid millions of dollars as bribes to low-level local officials in India to ensure that their goods were moved through customs or obtain real-estate permits. The Journal said a majority of the suspected payments were less than $200 - some were even as low as $5. The Journal's report said in 2013 Wal-Mart had buried its plans to open retail stores in India after severing its joint venture with Bharti Enterprises Ltd. Instead the retail major took the decision to turn a wholesaler in the country. The report, however, said Wal-Mart's bribery may not attract any penalty as its Indian operation does not yield any profit.