Understanding the Organization For Economic Cooperation and Development Anti Bribery Convention for India
Volume 6 Issue 1 (2013)
Corruption is one of the worst evils to have plagued the country and the world today. In order to tackle this problem, a number of international conventions dealing with matters of anti-corruption have emerged. The one which receives special attention in this paper is the Organization for Economic Cooperation and Development Anti Bribery Convention. This Convention aims at ending corruption by multinationals towards foreign public officials. Even though India is not a signatory to this Convention, the terms of the Convention will apply to it if investments are made by signatory countries within the territory of India. Further, if India becomes a signatory, the Indian multinationals will also be subjected to it, and will have to ensure that they do not engage in corrupt activities when doing business abroad. This paper examines the various terms of the Convention by focusing on certain important Articles of the Convention. In this respect, the paper also brings out deficiencies in the current Indian laws which impede compliance with these terms. The paper also discusses the probable impacts on India’s foreign relations if it chooses to sign this Convention. It concludes with the argument that India should sign this Convention after the passage of a few years.