India Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
High Concern
Corruption
Medium Concern
US State ML Assessment
High Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
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Anti Money Laundering
FATF Status
India is not currently on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The latest Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in India was undertaken in 2024. According to the follow-up Evaluation, India was deemed Compliant for 11 and Largely Compliant for 26 of the FATF 40 Recommendations. It was assessed Highly effective for 0 and Substantially Effective 6 of the Effectiveness ratings.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 38 |
| World Bank: Control of Corruption Percentile Rank | 42 |
India hosted the G20 Anti-Corruption Ministerial Meeting in August 2023, highlighting its role in addressing corruption as part of its G20 presidency. Despite having laws aimed at combating corruption, American businesses in India cite both actual and anticipated corruption, particularly within regulatory systems, as significant obstacles to foreign direct investment (FDI). India's score of 39 on Transparency International’s Corruption Perception Index places it 93rd out of 180 countries, indicating ongoing challenges in the fight against corruption.
Economy
India is the fastest growing large economy in the world, currently ranked as the fifth largest with a GDP of $3.4 trillion, and is projected to become the third largest economy by the early 2030s. The economy grew nearly seven percent in 2023, supported by effective inflation management and structural reforms aimed at improving the business environment, although challenges remain due to protectionist measures and reliance on coal for energy.
India's investment climate has improved due to recent structural economic reforms aimed at enhancing the business environment, including liberalizing foreign investment restrictions and modernizing bankruptcy laws. However, challenges remain, such as high tariffs and protectionist measures that complicate foreign participation in the market. The government actively promotes foreign direct investment through various initiatives and agencies, while also maintaining certain restrictions in sensitive sectors.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings