It is widely acknowledged that India is an extremely complex market in which to operate – a commercial landscape littered with legal, regulatory and reputational obstacles that is not for the faint-hearted. Navigating this environment and the risks involved can be a Sisyphean task, but for those with the courage and integrity to persevere, the rewards can be impressive.
As our paper outlines, there are two distinct forms of corporate malpractice in India: those that are clearly illegal (the black practices) and those that are less clear-cut and fall into a grey area where legality is ill-defined (though integrity and morality are often not). These grey practices are the schemes – often highly innovative in themselves – that in turn tend to fuel fraud and corruption on a far grander scale that can pose serious legal, commercial and reputational risks to companies that are not alert to the dangers.
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