THE world’s largest retailer by revenue –Walmart had to pay bribes to Indian officials in return for regulatory clearances, mainly clearing goods through customs or securing real estate permits, according to an article published in the
Wall Street Journal on October 19. The report says, the retailer paid bribes ranging from $5 to $200 to local officials in India. Before knowing more about the case, let’s get an idea of the sheer size of Warmart. It’s the world’s largest company in terms of revenue ($485 billion, 2014 data). In other words, its revenue is almost double the Ireland’s GDP, 10 times the Slovenia’s GDP and 250 times that of Bhutan. In terms of assets…
