Corruption is omnipresent and a global phenomenon that has progressively increased and is now rampant in developing countries. It flourishes where policies provide incentives for it and restraining orders are weak. It worsens the country’s image in international market and leads to loss of many overseas opportunities. However, with India playing such a large role on economy, will India’s multinational companies develop economic and political power to sweep away corruption from the economic sphere, or will corruption be a significant restrain on India’s economic rise?
Corruption in India is a consequence of a knot between government, politics, and criminals. The government of India is tainted with scandals. As mentioned in the article, “Corruption is a large tax on Indian growth…it delays execution, raises costs, and destroys the moral fiber.” India’s incompetent framework is seen as a hurdle to the country’s advancements. Not only does corruption affect the potential of the country, but also impairs poverty and deteriorates the quality of labor resources.
In order for India to improve corruption and become successful, the country has to gain moral integrity. Local companies such as Tata or Wipro have thrived because the companies have zero tolerance for corruption and pay no bribes. If other companies did that, then it would greatly affect the economical advancement of the country as a whole. However, it is not as easy as it seems because of the political corruption in the country.
Due to the fewer government controls recently, it has said that India has grown faster but in reality corruption has also increased. Politicians and officials steal money from the government and businesses. The poor value system and unethical qualities of men who administer make it difficult for the country to progress away from corruption. Therefore, though economic change is easier to achieve, cultural change is much slower and more difficult. And in order to root out...
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