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‘Corruption, bribery and corporate frauds’ has emerged as the biggest risk affecting corporate India, according to a new survey.
The India Risk Survey 2014 was carried out by FICCI and Pinkerton to assess the impact of risks across industry and geographies within the country.
‘Strikes, closures, and unrest’ have been rated as the second biggest risk category. In last year’s survey, it was ranked as the biggest risk, the survey added. Interestingly, ‘Corruption, bribery and corporate frauds’ ranked fourth in last year’s survey. ‘Political and governance instability’ have been rated as the third biggest risk factor this year, an obvious pointer towards political uncertainty surrounding the upcoming general elections. ‘Crime’ and ‘information and cyber insecurity’ are ranked next .
Political stabilityGK Pillai, Chair, FICCI Homeland Security Committee and Former Home Secretary said: “Political and governance instability will not lead to creation of employment, which is the most important issue facing the nation and its youth. A policy environment that trusts businessmen and entrepreneurs is the need of the hour.”
The results of the survey are based on a collation from a set of 12 risks that have been identified after a series of brainstorming sessions.
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