India, Feb. 14 -- Despite concerted efforts to combat corruption, red-tapism and bribery remain formidable barriers to business growth in India. The recent "India Business Corruption Survey 2024" presents a troubling picture: 66 per cent of business entities admit to paying bribes, with 54 per cent stating they were coerced to expedite government processes, obtain permits, ensure compliance, or acquire duplicate licenses. The problem is most acute in sectors governed by overreaching officials in labour, GST, income tax, pollution, provident funds, property registration, drug and health departments.The economic impact is undeniable.

A survey by EY-FICCI reveals that four out of five respondents believe corruption is a significant deterren...