"India is presently going through an era of far reaching reforms in anti-corruption, prompted by popular anti- corruption movements," Kumar said in a global anti-graft international forum in Marrakech (Morocco) on October 22.
Hazare movement is a "wake-up" call and it reflects the country's "inability in tackling the malaise of corruption", he said at the fifth annual conference of International Association of Anti-corruption Authorities.
"Whether it is the revolution across the Arab world, the ongoing 'Occupy Wall Street' protests which has spread to 78 cities around the world or the Anna Hazare Movement...there is one common thread...failure of governments and corporations to create a system of fair, honest, transparent and market-based principles and practices," Kumar said
His speech was posted on CVC website yesterday. On the issue of black money, Kumar stressed for greater political will and simplified legal and administrative procedures to bring them back from foreign off shores.
"Differences in legal systems, high costs in coordinating investigations, inadequate international co-operation and bank secrecy laws have made the task (bringing back black money) difficult for the anti- corruption authorities.
"Tracing, freezing, confiscation and then repatriation of stolen assets is a legal challenge. Managing the asset recovery investigation is complex, time consuming, costly and most importantly requires expertise and political will," he said.
The Central Vigilance Commissioner said corruption has become a major governance challenge which hampers socio- economic development of a country.
"Corruption being a complex socio-economic and cultural phenomena calls for innovative and localised solutions," said Kumar, who took over the reins of the anti-corruption watchdog on July 14.
He also outlined the anti-corruption measures being taken by the government.
"A Bill to deal with bribery of foreign public officials in international business is under consideration of the Parliament. The government is also proposing Public Procurement Act, False Claims Act, Whistle Blower Protection Act and a Judicial Accountability Act to address corruption in various spheres," the chief of the anti-probity watchdog said.
"A slew of measures like creation of Grievance Redressal Authority for strict enforcement of Citizens Charter by all departments and public authorities are being contemplated," Kumar said.