From Bofors through Enron to Walmart, the result of probes is the same. They all run into a dead end, blocked effectively by bribe-givers, leaving bribe-takers to breathe a huge sigh of relief. Given this, it is hard to see the need for a fresh probe into giant retailer Walmart’s lobbying to enter India. Probes like the one conducted after Walmart was forced to disclose to the US Congress that it had indeed spent a lot of funds to persuade Indians to allow multinationals to enter and do business on their terms are pointless.
Enron had cheekily said it had set up a fund to “educate” Indians before the company emerged as one of the biggest frauds in global business and went into oblivion. At least Walmart, still struggling to expand its Indian footprint, is defensive on this count, maintaining that all its lobbying activities conformed to US laws and did not violate any Indian regulations.
An inquiry conducted by a single retired judge was never going to be useful considering the committee had no investigative or summoning powers. Such probes are far more likely to be viewed as sinecures for retired judges rather than a way to establish the truth behind bribery, that is far more difficult to get at when big business is involved and politicians and bureaucrats, who are powerful players in a venal world of quid pro quo, are beneficiaries. The way forward is perhaps to invest the CAG, CVC, Lokayukta or other watchdogs with much greater powers.