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India ranks 9th among 41 countries in corruption in businesses

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India has ranked 9th out of 41 countries in bribery and corrupt practices in businesses as per the EY (Ernst & Young) Europe, Middle East, India and Africa (EMEIA) Fraud Survey 2017. The ranking has improved marginally since 2015 in which India ranked 6th.

Note – In context of this Survey, higher rankings indicate a negative scenario.

  • Improvement in India’s rank has been attributed to emphasis on transparency in governance and better regulatory scrutiny.
  • Countries which rank higher than India in this survey are: Ukraine, Cyprus, Greece, Slovenia, Croatia, Kenya, South Africa and Hungary.
  • In the survey, nearly 78 per cent of Indian respondents mentioned that bribery and corrupt practices are widely prevalent in Indian businesses.

 Cause of Concern and Course of Action:

India ranks 9th among 41 countries in corruption in businesses: SurveyArpinder Singh, EY India’s Partner and National Leader, Fraud Investigation & Dispute Services has highlighted that unethical behaviour at the workplace among Gen Y (people in age bracket of 25-34) also referred to as millennial has become a serious cause of concern. He also added that this tendency should be countered by instilling ethical values and motivating these future leaders to make right choices in the larger interest.

Other key findings from the survey:

Choices% of Indian Respondents
Those who would be prepared to act unethically to enhance their own career41%
Those who are prepared to provide false information to improve their career or pay13%
Those who stated that loyalty towards company prevents employees from reporting fraud, bribery or corruption58%

Interestingly, in a global survey, only 1 in 5 i.e. 20% of respondents said they would be prepared to act unethically for betterment of their careers.

  • The survey also said that modern day business challenges such as uncertain market condition, pressure to meet financial targets combined with aspirations to achieve unprecedented career growth are proving as triggers for resorting to unethical workplace behaviour.