Corruption in India could drive away foreign investors and hamper the country’s growth prospect, a consulting company said in a new report, which also showed that endemic corruption in the country has grown in scale to the tune of billions of dollars. More than two-thirds of the 100 leading foreign and local businesses surveyed by KMPG said corruption prevented the country’s economy from growing beyond the 9 percent forecast for the next fiscal year, while more than half said graft is likely to make India less attractive to investors, Reuters reports.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.