Foley & Lardner LLP Partner David W. Simon and Panag & Babu Partner Sherbir Panag co-wrote an article for The Anti-Corruption Report, focusing on recent anti-corruption legislation in India. While India remains at the forefront of the emerging markets in terms of attracting foreign direct investment, it continues to remain a high-risk country for doing business from a corruption standpoint. Recent amendments to India’s anti-corruption legislation have clarified the country’s approach to corporate liability and have brought its laws more into line with global enforcement standards. The article provides a summary of some of the key provisions of the amendments and provides specific advice for how companies can structure their compliance programs to effectively mitigate risk in India and position them to qualify for India’s new compliance defense should a corruption issue arise.
