Indian Firms Rank 19th as global bribe payers

Business leaders across companies and countries have acknowledged bribery practice and said that bribery was primarily done to win over public tenders, avoid regulations, speed up government processes or influence policy. However, companies have also accredited that bribery was done not only abroad but also from Business to Business (B2B). This confirms that corruption does not only lie in the public sector but has also made its way into the business sector. The business sector bribery carries major reputational and financial risks for the companies. Foreign bribery has become one of the most pressing points for the developed economies. To control and streamline foreign bribery actions, the developed economies (G20 ) nations are planning to introduce an anti-corruption action plan.