The purpose of this paper is to investigate Indian business manager’s perceptions of organizational values and their assessment of the relationship between ethical actions and success. The findings indicate that most Indian managers feel that they work for organizations with strong values, however, a significant number of those managers also felt that unethical behavior helps one to succeed. In addition, we found that neither the size of the firm nor whether the company was public or private, had an effect on perceptions of organizational values or feelings about the relationship between ethics and success. Overall, this research provides some new and unexplored insights as to the role ethics play in an Indian manager’s assessment of their organization, their personal feelings about ethics and professional achievement. and how these ethical perceptions compare with managers in businesses in China.