‘Corruption, bribery and corporate frauds’ has emerged as the biggest risk affecting corporate India, according to a new survey.

The India Risk Survey 2014 released here on Friday was carried out by FICCI and Pinkerton to assess the impact of risks across the industry and geography of the country.

‘Strikes, Closures and Unrest' has been rated as the second biggest risk.

In last year’s survey, it was ranked as the biggest risk, the survey added. Interestingly, ‘Corruption, Bribery and Corporate Frauds’ ranked fourth in the last year’s survey.

‘Political and Governance Instability' has been rated as the third biggest risk this year, an obvious pointer towards political uncertainty surrounding the upcoming general elections. ‘Crime’ and ‘Information and cyber insecurity’ have been rated as the No. 4 and No. 5 risks, respectively.

G.K. Pillai, Chair, FICCI Homeland Security Committee and former Union Home Secretary, said, “Political and governance instability will not lead to creation of employment which is the most important issue facing the nation and its youth. A policy environment that trusts businessmen and entrepreneurs is the need of the hour.”

The results of the survey are based on a collation from a set of 12 risks that have been identified after a series of brainstorming sessions.

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