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India seeks enhanced Swiss cooperation to tackle black money menace

A week after the black money disclosure window was closed, India today sought enhance cooperation from Switzerland and asked it to provide information on people stashing illegal money in that country.

India TV Business Desk New Delhi Published : Oct 06, 2016 14:59 IST, Updated : Oct 06, 2016 14:59 IST
File pic - Indian currency.
File pic - Indian currency.

A week after the black money disclosure window was closed, India today sought enhance cooperation from Switzerland and asked it to provide information on people stashing illegal money in that country. 

In a meeting with visiting Minister for Justice and Police of Swiss Confederation Simonetta Sommaruga, Home Minister Rajnath Singh said that he looks forward for cooperation from his side on the issue.

Unaccounted wealth worth Rs 65,250 crore was declared by 64,275 people under the Income Declaration Scheme. The four-month long window was closed on September 30.

On the occasion, the two sides also signed three pacts -- mutual visa exemption agreement for holders of diplomatic passports, technical arrangements on identification and return of illegal migrants and arrangement for dependent person of diplomatic, consular, technical and administrative staff of diplomatic and consular mission to perform gainful employment. 

The Home Minister said India and Switzerland have made significant contributions to strengthen peace and prosperity based on their shared vision of a peaceful and progressive future. 

Singh also sought a more liberal visa regime for Indian business people since India has been offering multi-year multiple entry visas to Swiss businesses in a bid to enhance bilateral trade and investment. 

He proposed training facilities for Indian police officers in Switzerland police academies and other training institutes in the fields of anti-hijacking and cyber forensic. 

Other subjects of interest to the two countries were also discussed. These included cooperation in transfer of sentenced persons and mutual legal assistance treaty in criminal matters that would help in combating terrorism, transnational organised crimes and corruption including money laundering, the statement said. 

With PTI Inputs

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