India's 7 most corrupt industries

[Rambob]

1. Real estate and construction (32%)

The Government of India plans to spend $1 trillion between 2012 and 2017 on infrastructure which constitutes a
significant portion of the real estate and construction industry.

Approximately 30 per cent of this expenditure is expected to be funded through private-public partnerships.

Despite the importance that infrastructure development has in a nation's progress, the level of bribery and corruption in the sector is relatively high.

As per the final results, 32 per cent of the respondents named real estate and construction sector as most prone to corruption.

Key factors responsible for corruption in the real estate and construction industry are:

Disproportionate growth of the industry
Multi-layer complex contractual structures
Lesser developed internal processes and controls
Increasing cost pressures

2. Telecommunications (17%)

In second place is telecommunications, which was named by 17 per cent respondents as the most corruption prone sector in India.

The telecom sector has been in spotlight due to the 2G scam in which many top industry players have been embroiled.

"The survey shows that corporates cannot just claim to be victims of corruption. They are also responsible for it," Transparency International India executive director Anupama Jha said during the launch of the survey.

While praising certain rules like the Right to Information Act (RTI), majority of the corporate houses surveyed, however, believe the level of corruption in the country will remain the same irrespective of legislation.

3. Education and poverty alleviation (13%)

Among others in the KPMG survey, development sectors such as education and poverty alleviation came third with 13 per cent respondents terming it as the most corrupt.

A large number of respondents (31 per cent) to the KPMG India Fraud Survey 2010 stated that organisations pay bribes to win and retain business.

This is a typical scenario where organisations tend to overlook the implications of encouraging these practices and often look only at short term benefi ts achieved.

They fail to realise that what has worked in their favour could also land them into trouble later and lead to adverse consequences for them.

4. Banking and insurance (10%)

It was followed by financial services such as banking and insurance with 10 per cent.

Another key area where business is impacted is in the area of mergers and acquisitions.

Nearly 37 per cent of respondents opined that corruption could impact the valuation of a company thereby denying shareholders of a fair price.

Moreover, it could also make it diffi cult for them to fi nd a suitable business partner, thereby seriously impacting the growth prospects of the business.

5. Defence (9%)

Defence, according to the survey, with 9 per cent, is the 5th most corrupt industry in India.

The survey respondents also stated that corruption increases the overall cost of conducting business in terms of accessing capital as well as paying higher interest rates on account of operating in corrupt environments.

6. IT/ITES/BPO (6%)

IT/ITES/BPO with 6 per cent is the 6th most corrupt industry in India.

As other developing nations step up efforts to woo investors through easy access to capital and a simplistic way of doing business sans red tape and corruption, international businesses may view India as less conducive to carry out business compared to other developing nations.

7. Energy and power (5%)

Energy and power with 5 per cent is the 7th most corrupt.

The Indian government's track record in combating bribery and corruption has not been very effective.

The main reason for this is political interference and delayed justice that impairs the effectiveness of the verdict, opined corporate India.

Respondents also stated that corruption levels are expected to remain at the current level irrespective of the current and impending legislations.

[NaniMAN]

chala improve avvali manam ayyite  sCo_hmmthink sCo_hmmthink sCo_hmmthink sCo_hmmthink

[barre babu]

*=: *=:

[Jiguru Jingania]

defence  sFun_duh sFun_duh sFun_duh sFun_duh

[kingmakers]

where is politics?

[Antaraatma]

[quote author=KINGMAKERS link=topic=167948.msg2028090#msg2028090 date=1300191408]
where is politics?
[/quote] @3$% @3$% @3$%

[NaniMAN]

[quote author=KINGMAKERS link=topic=167948.msg2028090#msg2028090 date=1300191408]
where is politics?
[/quote]

POLITICS yemanna kanapadani nalugo simham aa?

adi obviously first position but topic ikkada Industries

e chinna logic yela miss ayyav?

[jersey babai]

you rock