Report: Wal-Mart curtails efforts in India
Posted: March 24, 2013 at 2:22 a.m.
Wal-Mart Stores Inc. of Bentonville has slowed its expansion in India amid allegations of bribery as the retailer sought to expand its presence in one of the world’s mostpopulous nations, according to The Economic Times, an India-based daily financial newspaper. The company launched an internal investigation late last year that ultimately led it to cut ties with two dozen consulting firms working on its behalf, The Economic Times reported. The newspaper said its report was based on interviews with three people with direct knowledge of the situation who declined to be named.
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Business, Pages 61 on 03/24/2013