Consensus says that this century belongs to India and China. We are seeing how these countries are redefining the way business is done globally. Outsourcing / Offshoring is now a norm. These two southern Asian countries are now the most lucrative markets in the world, thanks to 40% of world population residing here.
However, both these South Asian countries are facing tremendous growth hurdle in form of corruption. According to the Bribe Payers Index released by Transparency International, India and China have highest amount of corruption amongst the 30 leading economies of the world.
Have a look at Bribe Payers Index (BPI), the lower the average score, higher the corruption.
|Rank||Country/ territory||Average score
|Percentage of global exports|
The results draw from the responses of more than 11,000 business people in 125 countries polled in the World Economic Forum’s Executive Opinion Survey. A score of 10 indicates a perception of no corruption, while zero means corruption is seen as rampant. Leading the ranking is Switzerland, but even its score of 7.8 is far from perfect.
India has always been known as a highly corrupt country (I hate it, but that’s the fact). Two government offices, legal and Police, are the most corrupt among the lot. This is one problem that India needs to take drastic steps to resolve.
Here is the Reuters videoÂ where Chandrashekhar Krishnan, Executive Director of Transparency International speaks about the latest Bribe Payers Index findings.