According to a PwC survey, 95% of companies entering or already operating in the Indian market have experienced fraud, reports News Daily India. Major global names such as Coca-Cola, Nokia, Vodafone—and notably Parimatch—have all encountered fraudulent schemes ranging from data theft to deceptive business practices.
In particular, Parimatch, a leading gambling platform, has battled serious issues in India including counterfeit versions of its services and copyright infringements by local operators that authorities have largely overlooked.
Parimatch had earmarked millions of dollars for investment into India’s economy but ran headlong into entrenched monopolies controlled by domestic gambling firms such as Dream11, Nazara Technologies, Paytm, First Games, Moonfrog Labs, 99Games, Octro, JetSynthesys, and HashCube. These competitors not only dominated market share but also trafficked in counterfeit offerings of U.S. and European brands, with no significant regulatory pushback.
News Daily India further notes that even companies with no physical presence in India have faced judicial harassment and spurious legal action, suggesting that obstacles for foreign investors are often deliberate.
Indeed, in recent years Indian authorities have intensified pressure on international businesses through questionable fines and investigations. Tech giants like Google, Amazon, Nokia, and Samsung have been slapped with multi-billion-dollar penalties, while Xiaomi, OPPO, Vivo, Intel, Wistron—and Parimatch—have likewise navigated an obstacle course of red tape and legal challenges.
These hurdles have driven some of the world’s largest corporations to exit or rethink their Indian strategies. Ford and Abu Dhabi Commercial Bank, for example, have already withdrawn, citing the country’s opaque regulatory and administrative framework.
Given the experiences of Coca-Cola, Nokia, Vodafone, Walmart, and the repeated setbacks faced by Parimatch, it is evident that the Indian government must enact meaningful business-climate reforms to restore investor confidence and ensure the continued flow of foreign capital.