Indian Firms Performed Best In the BRICS Countries: Transparency International

Transparency International (TI) released a report on 17 October 2013 tilted Transparency in Corporate Reporting: Assessing Emerging Market Multinationals .The report is related on 100 of the fastest-growing, companies based in 16 emerging Countries.

Highlights of the report

• Indian firms perform best in the BRICS countries
• Russian firms occupied second place in the score.
• China got the lowest rating of the BRICS economies (Brazil, Russia, India, China and South Africa).
• Eight of the 10 worst-performing companies were Chinese, such as state-owned Chery Automobile Co Ltd.
• 50 percent of the companies with the lowest scores are privately owned.
• Companies from India like Tata Communications, Tata Global Beverages, Tata Steel and Vedanta Resources scored 92 percent and topped in the score.
• 79 companies published a statement that they are committed to complying with all laws, including anti-corruption laws. But almost half did not have an unequivocal statement of zero tolerance of corruption.

Transparency International (TI) used following three metrics in the report

1. Reporting on anti-corruption programmes (ACP): covering inter alia bribery, facilitation payments, whistleblower protection and political contributions
2. Organisational transparency (OT): including information about corporate holdings
3. Country-by-country reporting (CBC): including revenues, capital expenditure and tax payments