India grapples with telecoms corruption
KPMG found that a huge majority of corporates believe India can surpass an annual growth rate of over 9% if corruption is controlled, while self-critically admitting that the private sector is greatly responsible for bribery and nepotism.
Around 32% of the respondents named the real estate and construction sector as most prone to corruption, followed by telecommunications (17%).
Business Today states that India does not believe existing laws and government measures will be able to stem the rising tide of bribery and corruption in the country.
According to KPMG, India's top business executives felt corruption made it difficult for companies to attract investments from overseas.
The Indian Express says as many as 99% of organisations surveyed were of the view that the biggest impact of corruption on business was that it skewed the level playing field and attracted organisations with lesser capability to execute projects.
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