March 6th, 2011
Econintersect: There may be a lot about corruption in the news in India, but, according to a spokesman for the U.S. rating agency Fitch, there are worse places. This opinion came from Richard Hunter, Managing Director for Corporate Rating, in an interview with PTI (Press Trust of India). PTI identifies among the corruption issues in India the allocation of 2G wireless bandwidth, conduct of Commonwealth Games, allotment of flats in Adarsh Housing Society and Devas-Antrix deal. GEI has also reported on problems with microfinance in India. Follow up:
Follow up:Hunter specifically said that India was not as corrupt as China and Russia. However, he added that India "would win the gold medal" when it came to corruption. He also said that India has problems with regulation and tax treatment, although he did not compare those factors to other countries.