rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Corruption in India has become worse: Ratan Tata

Corruption in India has become worse: Ratan Tata

Last updated on: August 24, 2011 13:28 IST

Corruption in India has become worse: Ratan Tata

     Next

Next

Top industrialists have expressed concern over the impact that worsening corruption has on their businesses and said there is no short-cut to becoming a billion-dollar company other than doing things the right way.

"I think corruption has become worse and if you choose not to participate in this, you leave behind a fair amount of business," Tata Sons Chairman Ratan Tata said at an event on 'Higher Ambition/How Great Leaders Create Economic and Social Value', organised by Harvard Business School.

Click NEXT to read more


Image: Ratan Tata.
Photographs: Reuters.
     Next

Corruption in India has become worse: Ratan Tata

Prev     Next
Prev

Next
Tata said that unlike in 1991, corruption is now not only seen in the grant of licence approvals, but also in the award of contracts and in changing the terms of contractual obligations.

Click NEXT to read more


Image: A protest against corruption.
Photographs: Reuters.
Prev     Next

Corruption in India has become worse: Ratan Tata

Prev     Next
Prev

Next
"You have a non-level playing field and those who do not participate in this (paying bribes) live at a disadvantage. A large part of the business community is cautious," Tata said.

"You often have young employees who ask me, 'Why don't you just do it (give bribe)', but my reply to that is I would rather like to hold my head high," Tata remarked.

Click NEXT to read more


Image: Ratan Tata.

Prev     Next

Corruption in India has become worse: Ratan Tata

Prev     Next
Prev

Next
"What's happening at the Ramlila Ground signals a great shift of people wanting accountability and not just from politicians, but also from businesses," said Anand Mahindra, vice chairman and managing director, Mahindra & Mahindra.

"There is a much greater demand for accountability... You would not be able to deliver value unless you recognise this change in consumers, who are not going to buy brands that do not signify fairness and shared values," Mahindra said.

Click NEXT to read more


Image: Anand Mahindra.

Prev     Next

Corruption in India has become worse: Ratan Tata

Prev     Next
Prev

Next
"One can bribe their way to make a $10 million company, but if you want to make a $1 billion company, there is no other way but to do business the right way," the founder of Infosys, N R Narayana Murthy, said at the event.

Click NEXT to read more


Image: N R Narayana Murthy with Prime Minister Manmohan Singh.
Photographs: Reuters.
Prev     Next

Corruption in India has become worse: Ratan Tata

Prev     More
Prev

More
Businessmen remaining silent on corruption is also very unfair, Murthy said.

Replying to a query on why businessmen are not entering politics, Murthy said, "It is important to give an opportunity to young people. I want youngsters to join politics and we can support them."

Click NEXT to read more


Image: N R Narayana Murthy.

Prev     More
© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.