Finally, in a gloomy economic climate, India Inc has something to cheer about. Indian companies are the most transparent among BRICS nations, as per a survey by Transparency International.
As most large companies are following globally accepted and recognised accounting standards that disclose key financials of all subsidiaries, India has managed to beat other emerging countries on the transparency front.
In fact, nine of the ten most transparent firms in emerging markets are from India.
This includes the likes of telecom major Bharti Airtel, Tata Group companies Tata Motors, Tata Steel, Tata Global Beverages, Tata Chemicals, Tata Communications and TCS, Mahindra & Mahindra and Wipro.
India's arch rival China has scored the lowest among BRIC nations.
The 37 Chinese companies considered for the survey includes large state run firms such as China Shipping Group and China Minmetals Corp as well as new-age internet giants such as Alibaba Group Holding Ltd and Tencent Holdings Ltd. What's appalling is that three Chinese firms including auto-parts maker Wanxiang Group scored zero pointing towards a weak commitment to meet transparency norms as per Transparency International.
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