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Lord Paul for punishment to bribe- givers too.

UK- BASED business magnate Lord Swraj Paul on Friday said that the increasing corruption in India will never be stamped out unless both the givers and takers of bribes are equally exposed to public scrutiny and the rule of law.

" While the demand- side is local, a large part of the supply- side comes from foreign enterprises that see it as a way to obtain easy short cuts. While India has to curtail its side, those who do business in India have to be more conscious that they should be less part of the problem and more part of the solution," Lord Paul said at the Dr. Stya Paul memorial lecture held here.

Lord Paul said the Companies Bill 2012, the biggest change to Indian company law since the 1950' s is expected to improve transparency and attract international investment to India.

" I applaud their intent. But I also note carefully the words of the Financial Times which says that India will soon have the legislation required to keep its companies clean and efficient, but can attitudes be changed as quickly as words? I feel these legislative changes will only work if leaders of business embrace not only the letter of the law but also its spirit," Paul asserted.

He further said " even in Britain, we have had our difficulties. Corruption extends well beyond simple monetary gain to the abuse of power." " Just as in business, our political leaders must recognise that others look at them as an example. I have seen how corruption in certain countries has destroyed the fabric of society for ordinary people and lowered the prestige of those countries internationally. In India I have been actively fighting corruption since 1982," he said.

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Publication:Mail Today (New Delhi, India)
Geographic Code:9INDI
Date:Apr 26, 2014
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