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General Russia, China More Corrupt Than India: Report

kds1980

SPNer
Apr 4, 2005
4,502
2,743
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INDIA
India is not as corrupt as China and Russia, a global credit rating agency Fitch has said.

The country, however, suffers from excessive regulation and tax laws, which is worrying for foreign investors, Fitch group managing director Richard Hunter said.

“We will certainly rank India well below Russia and China when it comes to concerns about corruption. Really big concern about India is regulation and tax treatment,” he said.

Hunter further said that the recent corruption cases have not affected the confidence of investors in India and added, “Corruption is certainly not a specialty in which India will win the gold medal. Corruption is something that does deter investors in China. There is respect for Indian legal system,” he said.

These comments come at a time when the nation is facing a plethora of corruption cases.

http://www.dnaindia.com/india/report_russia-china-more-corrupt-than-india-report_1516551
 

spnadmin

1947-2014 (Archived)
SPNer
Jun 17, 2004
14,500
19,211
Fascinating. I should read more about the Fitch group and how it does its ratings. I do know from other sources that Russia is in the stranglehold of organized crime, mobsters, and has been for some time. And Russia even exports this commodity to the US. Russian mobs are invisible parts of what often look to be very legitimate businesses. China's corruption is tangled up with official government agencies, e. g. the People's Army, that own vast sectors of the economy and run them in competition with private ownership, making pay offs and protection rackets inescapable. This report does not suprise me.
 

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