|
|
the-south-asian.com May 2004 |
||||
|
May
2004 Music
Lehngas - a limited collection Books Between
Heaven and Hell
|
|
||||
|
WRAGE WAGES WAR ON CORRUPTION by Gyan Marwah
In the world of international business where hush money has become the unwritten code, Alexandra Wrage is out on a mission to clean up the system. In India she recently set up TRACE, a non-profit association of companies committed to greater transparency in business. The charismatic president offers a clean and certified way to do international business for the Indian companies that are raring to go global and for overseas companies who want to set up shop in India.
In business circles they are referred to as the dirty B and C words. It is no secret that bribery and corruption are synonymous with the functioning of several governments around the world. The two evils have spread their tentacles so wide that the United Nations Secretary General Kofi Annan has added the anti bribery issue in the UN mandate and has established an ad hoc committee for the Negotiation of Convention Against Corruption. Such has been the magnitude of the problem that till some years ago if an organisation wanted to do business in another country it was well nigh impossible to identify companies of repute that had the potential to become trusted partners. It was this global problem that set Vancouver-born lawyer Alexendra Wrage thinking. "Till some time ago there was no recognised medium of vetting global companies. It was casino luck really. That’s when the idea struck me. Why not create a database that would help enterprises pick up business partners around the world," says Wrage (pronounced Roggy) who was in India recently to set up a branch of her organisation called Transparent Agents and Contracting Entities (TRACE). Heartened by the upward movement of the economy and seeing the number of global companies setting up shop in India, Wrage sees the country as a potential hotspot for global businesses. " We are getting a lot of queries about India from our member companies who are willing to invest with local partners. So here we are, searching for the right kind of organisations, agents and intermediates who can fit the bill." TRACE is a non-profit membership
association that specializes in anti-bribery and compliance training for
international commercial intermediaries (sales agents and representatives,
consultants, distributors, and suppliers). The company’s members are
"pre-vetted" partners for multinational corporations seeking to do
business with intermediaries who share their commitment to transparent and
ethical business practices. The process is extensive and is based on research that is done prior to listing any name on its list. " The members are evaluated on fixed parameters that meet the global standards and they need to renew their membership annually. So there is no relaxation, one has to be vigilant throughout," says Wrage. To help members keep away from any malpractices TRACE provides a must-complete annual anti-bribery compliance training provided through its workshops organized at locations around the world. The aim is to keep people aware and up to the mark over the issues of global concerns. Wrage says India will be one of her company’s biggest challenges. Though the economy is opening up the country is still beset with cumbersome procedures. Pressures and demands from bureaucrats and politicians are commonplace. " Yes that is all there but the heartening factor is that it is also changing. The younger generation isn’t succumbing to the pressures. We are identifying companies that have young, professional and progressive managements," says Wrage. The company has started on the right note and there has been quite an overwhelming response to TRACE’s first workshop. But Wrage had a word of caution for companies keen to join in. " The changes and transparency will take time. The partners need to be patient and prepared for the initial hiccups that they may face." She suggests advanced long term scheduling. Many in the corporate circles are seeing this as a good beginning to root out corruption. And Wrage herself sounds very confident when she says, "India has huge potential that needs to be tapped and we will be looking forward to offer the solutions that make business sense for global giants." Will TRACE be able to trace the roots of corruption in India? Only time can tell. But what is for sure is that companies like Wrage’s are a step in the right direction.
*****
|
|||||
| Copyright © 2000 - 2004 [the-south-asian.com]. Intellectual Property. All rights reserved. | |||||
| Home | |||||
