December 9 - The International Day Against Corruption


December 9 -  The International Day Against Corruption

India Inc has been noticeably absent from a 4 year-old United Nations (UN) led global initiative against corruption, an unflattering distinction for Indian industry that could also buttress a widespread feeling that doing business in the country is difficult without bribing officials.

Not one Indian company has yet joined a global panel of companies steered by the world body to act against corruption in their businesses and pressurise governments to stem the graft menace, forcing the head of the initiative to repeat a call to India Inc to join the fight.

United Nations Global Compact Office..!

The panel already has top global names like Coca - Cola, Microsoft ,Siemens and Accenture.

At the moment, I do not have any firm from India not one of them, Ms. Olajobi Makinwa of the United Nations Global Compact Office (UNGCO) told ET, urging the corporate sector to join the fight to remain competitive & reduce poverty.India is a big market with lots of money that offers huge avenues for corruption to thrive The private sector must act against graft as governments do nott bribe themselves.

In most cases, bribes come in the form of huge chunks of black money that flow from the private sector to the government, Ms. Olajobi Makinwa said, drawing a linkage between corporate graft and black money flows.

Representatives of Indian industry expressed surprise at the absence of local firms in the United Nations-led initiative, saying this could simply be because they were not aware of it.

The United Nations is generally perceived as a diplomats' group, not one for businessmen. So, if the UN Global Compact wants us to join their international working group against corruption,they should approach us through industry bodies like the Confederation of Indian Industry (CII), Godrej Group Chairman Mr. Adi Godrej  told.

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