Shraysi Tandon Shraysi Tandon

Corruption – The Main Games In India

(ABC) The Commonwealth Games has officially opened, and the multi-billion dollar event that was expected to elevate India’s profile on the world stage has instead plagued India’s reputation. Allegations of corruption, nepotism, incompetence and sheer negligence have now risen to the forefront, potentially damaging much sought after foreign investment.

 But those who know India are not surprised. The economic superpower is built on shaky foundations and has a conflicted corporate culture – modern ideas hand-in-glove with outdated business traditions.

India has spent around $5 billion on the Games – almost nine times its originally estimated budget of $500 million. The Games have been criticized as being the most expensive ever and, in a country where over 800 million people live on less than $2 a day, there is outrage even among the nationalists.

 

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Reporter/Anchor at CCTV America. Covering business and financial news from New York for CCTV's 1 billion viewers globally.

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