India Country Profile

Quick country select
Page available in:
  •  
  •  
  •  
  •  
  •  

Environment, Natural Resources and Extractive Industry

Business Corruption

According to Global Integrity 2011, business inspections by government officials to ensure public environmental standards are often carried out in an arbitrary and ad-hoc manner.

Corruption, looting, fixed bidding and kickbacks in India's mining sector are reportedly common. According to a June 2013 news article by Forbes, Jindal Steel & Power, owned by the steel and power tycoon Naveen Jindal, is under investigation for paying kickbacks to the former coal minister in order to secure a coal mining contract. Later India's Central Bureau of Investigation disclosed that 155 coal minies were allocated without auction, and Jindal Steel & Power is among the companies named as having snatched over USD 4 billion.

Political Corruption

Another corruption scandal, allegedly costing India's exchequer USD 200 billion, was related to the allocation of coal blocks. According to several 2012 news sources including the Wall Street Journal and BBC News, a draft report by the Comptroller and Auditor General (CAG) estimated that, between 2004 and 2009, the government allocated coal blocks to a select group of private companies without competitive bidding, resulting in the private companies gaining huge profits.

Web Statistics