Retail giant Wal-Mart, now eyeing the huge Indian market, will be the official sponsor of Bollywood Movie Awards this year.

The awards in various categories are given on the basis of preference expressed by South Asians settled abroad in a poll conducted by the Bollywood Group over several weeks.

Chairman and CEO of Bollywood Group Kamal Dandona said on Wednesday that he expects leading film makers and artistes to attend the award function which will he held in New York on May 26.

"Bollywood brings an important cultural experience and rich history to the city of New York while contributing to the influence of American cinema," said Esther Silver-Parker, senior vice president, diversity relations, Wal-Mart Stores, Inc.

"As a global retailer, it's important that we demonstrate our commitment to diversity. Supporting the Bollywood Awards is a great opportunity for us to further promote the initiatives of the Asian American and Pacific-Islander community," he added.

"We are pleased to work with Wal-Mart, a company which shares our Group's vision of promoting culture and diversity. By teaming with the Bollywood Awards, Wal-Mart is also endorsing Bollywood's undeniable role in influencing and shaping culture around the world," he said.