Indian companies impressive in their rankings
India’s economy is often criticized for its bureaucratic controls and too many regulations. TRANSPARENCY INTERNATIONAL has given the thumbs up for India’s regulatory body and has cited strong regulations and disclosure norms. The disclosure norms include corporate entities abroad including their name, country of operation, percentages owned and some key financial data. Transparency International cites these regulations for boosting the ranking of Indian companies in the rankings among emerging economies.
Airtel leading the way
Many Indian companies have fared well on this front – 19 Indian companies achieved a high average score of 77 percent because they are required by law to disclose key information about all their corporate entities abroad including their name, country of operation, percentages owned and some key financial data. One company Bharti Airtel secured a whopping 100%. The same ranking also pointed out that 8 companies from China & 1 from Brazil secured 0% on this front.
More work to be done
It is indeed refreshing to see Transparency International giving the thumbs up to many Indian companies on the issues of regulations and disclosures. It is also worthwhile to remember that India Inc and other structural issues need a lot of improvement in other areas and criteria. Let us hope this positive news serves as a stepping stone for further success for India and India Inc.