Indians among most corrupt while doing business abroad
At least 30 per cent of 2,742 business executives surveyed across the world regard Indians among the most corrupt when doing business.
New Delhi: At least 30 per cent of 2,742 business executives surveyed across the world regard Indians among the most corrupt when doing business, according to a report by an NGO Transparency International India (TII) here.
"The Global Corruption Report 2009: Corruption and the Private Sector (GCR)" which was released today worldwide claims that Indian and Chinese companies play an active role in global business but engage in "bribery" when doing business abroad.
The Competition Act enacted in 2002 which promotes and sustains competition in markets and protects the interest of consumers has remained a non-starter in India, as per the report.
"A minimum of 100 senior executives each in 26 countries were questioned regarding the practices used by business persons from various nations," it says.
"TII has had some measure of success with public sector firms with the use of Integrity Pact, a tool to check corruption in procurement and tendering. We have not been able to generate similar interest among the private sector yet," says TII chairman RH Tahiliani in a statement.
Another concern the report addresses is how the sheer economic power of some firms and business sectors translates into disproportionate and undue leverage on political-decision making.