The PricewaterhouseCoopers 2007 Global Economic Crime Survey, released in October, revealed a somewhat dismal picture of the problem of bribery and corruption in India.
As India’s economy expands and attracts international investment in never-before seen amounts, the survey showed that 38% of more than 5,400 company representatives said they were asked to pay bribes over the past two years. Listed as a major emerging economy, India showed a greater level of bribery than China, 21%, Turkey, 28%, and Mexico, 28%.
“Indian companies and government should be concerned about the perception of global firms regarding [the] corrupt environment in India as it would affect the flow of foreign investment and the cost of raising funds by India Inc,” PwC’s advisory leader, Ashwani Puri, said while releasing the survey.
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