India has crept down to the 82nd spot in 2021 in a global list that calculates business bribery risks. This new ranking is five places below from 2020, where India was ranked 77th. According to the above-mentioned list by TRACE, an anti-bribery standard-setting body, it calculates and calibrates business bribery risk in 194 nations, territories, and autonomous and semi-autonomous regions.
A Drop In Numbers
As per this year's numbers, North Korea, Turkmenistan, Eritrea and Venezuela currently pose the biggest commercial bribery risk, with Norway, Finland, Denmark, New Zealand and Sweden presenting the lowest.
Last year, India had a score of 45 and was ranked 77. Meanwhile, the country stands at the 82nd spot with a score of 44, as per the data quoted by The Indian Express.
How Is It Determined?
The entire scoring system is on the basis of four key factors — anti-bribery enforcement and deterrence, business interactions with the government, capability for civil society oversight which also includes the role of the media and government and civil service transparency.
When compared to its neighbours in Pakistan, China, Nepal and Bangladesh, India is ahead. However, Bhutan secured a ranking of 62 as per the official release.
In an official release, TRACE's 2021 Bribery Risk Matrix revealed that in the last decade, the business bribery risk environment exacerbated massively in nations that also experienced democratic backsliding: Venezuela, Egypt, Turkey, Hungary and Poland.
As per the matrix, North Macedonia, Vanuatu, Montenegro and Peru also secured a score of 44, the same as India.
The TRACE Bribery Risk Matrix calibrates all significant data secured from international organisations and leading public interest, which also includes the likes of World Bank, United Nations, World Economic Forum and the V-Dem Institute at the University of Gothenburg.