PM Modi makes strong showing at PMs first G-20 in Brisbane Prime Minister Narendra Modi on Saturday pitched for global cooperation on repatriation of black money stashed abroad as the summit of G-20 countries opened in Brisbane, amid intense pressure from within on tackling the menace. Meeting G-20 leaders for the first time at a summit, Modi made it clear that repatriation of Indian black money parked abroad is his government’s priority and also sent the message that economic reforms should be insulated from politics. G-20 host Australia vowed a very aggressive crackdown on tax avoidance on Friday, and India is seeking strong action against tax havens from the other 19 industrialised and major economies that form the bloc. Raising the black money issue at an informal meeting of leaders of the five-nation Brics (Brazil, Russia, India, China and South Africa) bloc, Modi also sought close global coordination in bringing black money back home. “Repatriation of black money kept abroad is a key priority for us,” Modi told his fellow Brics leaders—Brazilian President Dilma Rousseff, Russian President Vladimir Putin, Chinese President Xi Jinping and South African President Jacob Zuma. Modi said this unaccounted for money is also linked to security challenges. External Affairs Ministry Spokesperson Syed Akbaruddin told reporters it was the first time that “there is focus on the security dimensions of black money”. Since coming to power, Modi has repeatedly said that bringing back black money is a priority and his government, on its first day in office, constituted a special investigation team (SIT) to unearth black money. Later on Saturday, while addressing other G-20 leaders at a retreat, Modi said the reform process is bound to face resistance and called for it to be insulated from political pressures. Making a strong pitch for economic reforms, Modi said that “reforms should lead to simplification of processes and that methods of governance must be reformed”. The retreat was hosted by Australian Prime Minister Tony Abbott at the Queensland Parliament House where the leaders met without aides shortly before the annual G-20 summit kicked off at the Brisbane Convention Centre in the afternoon. Saturday marked a day of hectic international diplomacy for Modi as he held parleys with world leaders, including US President Barack Obama and Putin, at bilateral meetings and informal discussions on the fifth day of his whirlwind three-nation 10-day tour. Modi, the first Indian PM to visit Australia in 28 years, greeted Abbott with a hug as he entered the convention centre, infusing the formal atmosphere at the meeting with an air of comfortable camaraderie.
Posted on: Sun, 16 Nov 2014 12:00:31 +0000
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