New Delhi, India Press Trust reports that KPMG's latest survey shows that as the 2G scam has received much attention in recent months, the Indian telecommunications industry has been rated as the country’s second most vulnerable to corruption, ranking first. It is real estate and construction.
The survey also found that most companies believe that if corruption can be effectively controlled, India's average annual growth rate will be above 9%. These interviewed companies also acknowledged that the private sector should bear the primary responsibility for accepting bribes and negotiating with anyone.
The survey targets 100 Indian companies and multinational companies in different fields, including transportation and logistics, aviation, oil and gas, consumer products, financial services, automotive and chemical.
Of all respondents, 32% believe that real estate and construction are the industries most vulnerable to corruption, while telecommunications ranks second with 17%.
Previously, due to the exposure of 2G scams involving many major companies in the industry, the telecom industry has caused widespread concern.
Ranked third is the development sector (such as education and poverty alleviation), with a ratio of 13%. Financial services such as banking and insurance, defense, information technology/intellectual control systems/business process outsourcing, and energy and power were ranked fourth to seventh with 10%, 9%, 6%, and 5%, respectively.
Anupama Jha, executive officer of Transparency International India, stated: “The survey shows that companies cannot just think of themselves as victims of corruption. They should also be responsible for this.â€
According to KPMG's survey, 51% of respondents are concerned that increasing industry corruption may reduce India's attractiveness to foreign investment, while 98% believe that industry corruption may increase stock market volatility and thus curb long-term investment from abroad. By.
Of all companies surveyed, 99% believe that the greatest impact of corruption on the industry is to undermine the fair competition environment.
Khivi India Executive Director (Court Services) RohitMahajan pointed out: "In addition, 68% of respondents believe that in many cases, the private sector is the culprit for corruption."
While affirming the introduction of certain rules (such as the Information Act), the vast majority of companies surveyed believe that, as before, the level of corruption in the country has little to do with legislation.
The survey also found that most companies believe that if corruption can be effectively controlled, India's average annual growth rate will be above 9%. These interviewed companies also acknowledged that the private sector should bear the primary responsibility for accepting bribes and negotiating with anyone.
The survey targets 100 Indian companies and multinational companies in different fields, including transportation and logistics, aviation, oil and gas, consumer products, financial services, automotive and chemical.
Of all respondents, 32% believe that real estate and construction are the industries most vulnerable to corruption, while telecommunications ranks second with 17%.
Previously, due to the exposure of 2G scams involving many major companies in the industry, the telecom industry has caused widespread concern.
Ranked third is the development sector (such as education and poverty alleviation), with a ratio of 13%. Financial services such as banking and insurance, defense, information technology/intellectual control systems/business process outsourcing, and energy and power were ranked fourth to seventh with 10%, 9%, 6%, and 5%, respectively.
Anupama Jha, executive officer of Transparency International India, stated: “The survey shows that companies cannot just think of themselves as victims of corruption. They should also be responsible for this.â€
According to KPMG's survey, 51% of respondents are concerned that increasing industry corruption may reduce India's attractiveness to foreign investment, while 98% believe that industry corruption may increase stock market volatility and thus curb long-term investment from abroad. By.
Of all companies surveyed, 99% believe that the greatest impact of corruption on the industry is to undermine the fair competition environment.
Khivi India Executive Director (Court Services) RohitMahajan pointed out: "In addition, 68% of respondents believe that in many cases, the private sector is the culprit for corruption."
While affirming the introduction of certain rules (such as the Information Act), the vast majority of companies surveyed believe that, as before, the level of corruption in the country has little to do with legislation.
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