PM Modi wants G20 to take on tax havens

Brisbane: Prime Minister Narendra Modi on Saturday said repatriation of black money stashed abroad is a “key priority” for his government, even as he linked unaccounted wealth to security challenges.

 

Raising the black money issue at an informal meeting of leaders of the five-nation Brics (Brazil, Russia, India, China, South Africa) bloc, Mr Modi also sought close global coordination to achieve the objective of bringing black money back home.

 

Mr Modi set the tone on black money issue ahead of the G20 summit in the wake of his commitment to bring back every penny of black money stashed abroad.

 

“Repatriation of black money kept abroad is a key priority for us,” Mr Modi told the Brics leaders. Calling for close coordination on the issue of black money kept abroad, Mr Modi said this unaccounted money is also linked to security challenges.

 

External affairs ministry spokesperson Syed Akbaruddin told reporters it was for the first time that there is focus on the “security dimensions” of black money.