India 9th in business corruption

In what can only be called a sad remark for India, the country was ranked at a ninth position out of 41 in a survey on business corruption.

This was found in a recent survey. The survey was conducted by the EY Europe, Middle East, India and Africa (EMEIA) Fraud Survey 2017.

India is behind in corruption only to Ukraine, Cyprus, Greece, Slovenia, Croatia, Kenya, South Africa, and Hungary.

However, this is not a complete bad news. The country’s rank has improved from 2015.

In 2015, the survey placed India at the sixth position. Now, thanks to better regulatory scrutiny and improved transparency and governance, the corruption has reduced. This rank can be taken as a good indicator of country improving.

According to Arpinder Singh, EY India’s partner and National Leader, there has been a great positive change in terms of perception of fraud and corruption in corporate India.

He says that despite the improvement, fraud behavior from Gen Y (people born in the 1980s-90s) in workplace is still a big concern in the country.

According to the survey report, factors causing unethical behavior in workplace are uncertainties in the business environment, augmenting pressure to meet financial targets and ambition for fast career growth.

The survey showed that about 41 percent of the Indian respondents were ready to go in unethical means to move forward in their career fast.

More than 13 per cent of the respondents were ready to give false information so they can improve their career or pay.

According to 58 per cent of them, loyalty towards the company they work for, prevents employees from reporting fraud, bribery or corruption.

When look at the same matter globally, 1 in 5 respondents were ready to do unethical things just for the sake of improving their careers.

Image by Zelandia from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/illustrations/corruption-stop-no-4648293/