Corruption has become a stumbling block for CEOs in India. From securing contracts to getting funds from the government and banks, paying bribes is normal. A survey by Control Risks, a global risk consulting firm, and Economist Intelligence Unit reveals Indian firms are not prepared to adhere to international anti-corruption laws and the tightening domestic regulatory framework. Giving bribes also increases the risks of prosecution and reputational damage. The survey says Indian companies lag their global peers in providing anti-corruption training to employees, having whistleblowing mechanisms and budget dedicated to anti-corruption initiatives. Some key findings of the survey:
)
