Reality Check: Indian COs Are More Transparent Than Their Global Counterparts

In Transparency International survey, score on OT depends company's disclosure of information about its consolidated and non-consolidated subsidiaries and associates in its consolidated accounts and financial statements. Indian companies score high on this score due to mandatory disclosure of norms for subsidiaries and associates.

Indian companies also score high on country-level disclosures of their international operations. ONGC and RIL are ranked five and six on this parameter respectively with score of 30 percent each, nearly five times the sample average score of 6 percent and highest score of 60 per cent.

According to Transparency International Survey, world’s biggest corporations such as American Express, Toyota Motors, Walt Disney, Visa, Procter & Gamble, JPMorgan Chase and Verizon Communications score very less.

RIL and ONGC however ranked poorly on the Anti-Corruption Programme, ranked 92 and 110 respectively with score well below global average.

Experts trait it to India's stringent disclosure norms and accounting practices as mandated by the Companies Act and Securities & Exchange Board of India (SEBI).

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