Wednesday, March 14, 2012
India Background Checks and Due Diligence Rising
The economy in India is still growing. Fueled by extreme overpopulation and citizens fighting to feed their family and reach a better quality of life, the country is expanding in nearly all sectors despite the global recession. IT and technology and customer support and call center jobs in India are growing. New internet and SEO companies are leading the way in internet start-up companies in New Delhi and Mumbai. The country is slowly improving its infrastructure and modernizing its record keeping systems. Many companies worldwide are capitalizing on India’s large number of educated and English speaking workforce. Healthcare, customer support, and information technology jobs are expanding as developed world firms increase outsourcing. India is the ideal market for many companies seeking a cheap provider or cheap labor. But, the benefits do not come risk free. With a sharp rise in fraud and scam cases, background checks and due diligence in India is also booming. Verifying in India is more important than ever.
Young people in India are transforming the country perhaps faster than any other country in the world. China is changing also, but India is arguably the most dramatic and stark contrast between old world and new. In the process, India is losing much of its old world charm. It is fast becoming a concrete, urban landscape of modern buildings and service center, offering cheap labor to the world. More mouths to feed means less resources to go around, and from an economic standpoint, this means cheap labor and desperate workers. As Indians are doing anything necessary to get into the workforce, and companies around the world are doing whatever it takes to find cheap suppliers and employees, the risk has risen significantly. All business deals, resumes, CV’s, references, companies and potential business partners should be screened and verified.
Poverty is among the highest in the world in India. Nowhere on Earth is poverty so widespread and in your face as it is in India. Local companies and job seekers are doing whatever necessary to escape the hard life, and get on board the new modernization.
According to India private investigators, the country represents a moderate and growing risk for business fraud and scams. Business deals, new hires and investments found over the internet are especially prone to fraud. Hiring a new employee in India, or starting a business relationship with a company in India without verifying its operations, reputation, legal filings and management can often lead to disaster. If the company is a fraud, or misstating its financial results or number of offices or employees, or reputation, it’s essential to find out sooner rather than later. If an India CV or resume is a fraud or has false employment data or education listed, it is of utmost important to know prior to hiring. Not verifying employees, companies and investments can be a costly learning mistake. India background checks and due diligence is smart risk management.
All the best,
© 2012 S. Birch