Corruption biggest scourge affecting country's image: India Inc

NEW DELHI: Describing corruption as the biggest "scourge" affecting country's image, India Inc today welcomed the agreement reached between the government and social activist Anna Hazare over Lok Pal Bill to deal with the problem.

Industry chamber CII has announced the formation of a committee under the chairmanship of Godrej Group Chairman Adi Godrej to galvanise industry to help government in combating corruption.

"CII stands firm on fight against corruption and therefore, welcomes the developments of the last one week," CII outgoing President Hari Bhartia said.

CII President designate B Muthuraman said, it is indeed fortunate that India is recognising the issue in time for it to be dealt with. This is in a way better than what the situation is in many developed and emerging economies, which seem to be in denial.

He said that some of the industries have set examples by not succumbing to pressures of unfair and corrupt practices.

"Corruption has dented India's image and steps should be taken to tackle it. This will help in attracting more investments into the country," Ficci said while hailing the government's decision to involve civil society in the Lok Pal Bill to deal with corruption in high places.

Assocham President Dilip Modi said, once the Lok Pal Bill is passed by Parliament, the problem can be reduced.

He said, corruption which is "spreading like cancer" has affected confidence of global investors into the country.