India has slipped to 82nd position in 2021, five ranks dipped from 77th rank last year, in a global list which measures business bribery risks, PTI reported.
An anti-bribery standard-setting organization, TRACE measures business bribery risk in 194 countries, territories, and autonomous and semi-autonomous regions.
It was first published in 2014 to meet a need in the business community for more reliable information about the risks of commercial bribery worldwide. It aggregates relevant data obtained from leading public interest and international organizations, including the United Nations, World Bank, V-Dem Institute at the University of Gothenburg, and World Economic Forum. These data help firms to assess the likely risk of bribe demands in each country and to design compliance and due devoted programs tailored to that risk.
This year’s data revealed North Korea, Turkmenistan, Venezuela, and Eritrea poses the highest commercial bribery risk, while Denmark, Norway, Finland, Sweden, and New Zealand stanced the lowest.
India ranked 77 with a score of 45 in 2020 while this year, the country presented at 82nd position with a score of 44, the data revealed.
The score is based on four factors includes business interactions with the government, anti-bribery deterrence and enforcement, government and civil service transparency, and capacity for civil society oversight which includes the role of the media.
India performed better than its neighbours – Pakistan, China, Nepal, and Bangladesh. Meanwhile, Bhutan ranked 62nd rank, the data revealed. Countries like Vanuatu, Peru, Northare Macedonia and Montenegro scored 44, the same as that of India, in the matrix.
Over the past 10 years, the business bribery risk environment worsened significantly in countries that also experienced democratic backsliding: Egypt, Venezuela, Turkey, Poland, and Hungary, the TRACE’s 2021 Bribery Risk Matrix, said in a statement.
“Over the past five years, the business bribery risk environment in the United States deteriorated significantly when compared with global trends. From 2020 to 2021, all of the Gulf Cooperation Council (GCC) countries saw an increase in commercial bribery risk. Over the past five years, the countries that have shown the greatest trend toward improvement in the factors underlying commercial bribery risk are Uzbekistan, the Gambia, Armenia, Malaysia, and Angola,” it added.
Source: Indian Express, The Quint