The OECD countries and its partners account for more than 80% of the world's investment and business. The companies or investors from the developed countries ratifying “OECD Anti-Bribery Convention (ABC)” prefer doing business with a foreign partner complying to their country specific laws, for instance: FCPA of USA, UKBA of UK and SAPIN – II of France and so on. According to Invest India 2021-22 financial year data, four (USA, UK, Switzerland and Netherlands) out of the top six FDI contributing countries have ratified OECD ABC and account for around 35-40% of net FDI inflows in India. Furthermore, the Governance compliance in ESG is similar to that of OECD ABC. In India the ESG and Sustainability funding/business has increased due to the BRSR mandate from SEBI stating compulsory compliance for top 1000 publicly listed companies in India. In turn, these companies mandate their supply chains to be compliant with the same. Moreover, India’s POCA – 2018 insists commercial organizations to take adequate measures to curb wrongdoings.

These compliances overlap, differ in a few aspects and are time-consuming, difficult to understand and costly. With the help of advanced technologies, OpenFDI is making Indian MSMEs comply with these laws/mandates in a simple, faster, better way that too at 1/10th of the cost. As an incentive, these complied MSMEs will be listed on the OpenFDI marketplace so that they can indulge in foreign transactions such as investment/divestment, debt, tech-transfers, m & a, participation in global bids, partnerships, franchise and trade with investors or businesses from countries ratifying OECD ABC.

OpenFDI is trying to address this question - "How to Select Indian MSMEs for Foreign Business Transactions based on Enterprise Integrity Scoring?"

Ancient India's Philosophy: Ethical Wealth Creation

OpenFDI is built on ancient India’s economic philosophy of “Ethical Wealth Creation” which made India a dominant economic power globally from the 1st to 15th century. We strive to contribute in making "India a 10 trillion-dollar economy by 2023".

"For more than three-fourths of known economic history, India has been the dominant economic power globally. Such dominance manifested by design. During much of India’s economic dominance, the economy relied on the invisible hand of the market for wealth creation with the support of the hand of trust. Specifically, the invisible hand of markets, as reflected in openness in economic transactions, was combined with the hand of trust by appealing to ethical and philosophical dimensions".

- Chapter 1: Wealth Creation: The Invisible Hand Supported by the Hand of Trust, Economic Survey of India 2019-20