India Is Now A Capitalist State

India world leader in greasing palms: India doesn't just have loads of corruption at home, it is also the world leader in exporting graft. Months after Transparency International ranked India as among the more corrupt societies in the world, the NGO’s Bribe Payer's Index 2006 shows that Indian exporters are more willing than their counterparts from other countries to pay overseas bribes to secure business, clinch contracts, do deals and generally get on in the world. While this is the third BPI released by Transparency, after the ones in 1999 and 2002, it is the first time India has featured in the index. It was considered too economically insignificant and lacking global spread and reach in the earlier rounds.

And who does India do export business with?

The US, India's biggest market accounting for 17% of India's total exports, the UAE, the second largest trade destination for Indian exports with an 8.5% share.

So who benefits from bribery? Look at which American companies have invested in India recently. And which Indian companies have been dominant players in global corporate takeovers.

US warns India of investment fallout from Coca-Cola, PepsiCo row

Gulf Arabs to pour billions into India real estate

Of course the UAE also has it's own corruption scandals in particular in Dubai, which has a Canadian connection.

India has a long history of corruption encouraged by British Imperialisms use of the Dutch East India Company for their own primitive accumulation of capital.

All capitalism is based upon the primitive accumulation of capital, that is the criminal acquisiton of wealth in its earliest period of development.

Democracy is less important to captialist development than corporate crime resulting from a capitalist state that allows for private accumulation through state policies of deregulation. See my article; Neo Liberal State Capitalism In Asia

Asia outsourcing: China, India and Southeast Asia as sourcing partners

The irony of these issues of transparency is that the it is based on WTO member capitalist states and their corporations that rate the countries invovled. You know corporations like Enron, Comcast, Apple, etc. all whom have been involved in some form of corporate malfiescence in their own countries. Kettle, pot, black.

See:

India

Mittal

Corporate Crime


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