World leaders laud PM Modi for raising black money issue at G-20 Summit

Prime Minister Narendra Modi's step to raise the issue of black money has been taken on board the G-20 Summit Communique.

"India scores at G-20. PM @narendramodi strong intervention gets backing for inclusion of transparency in tax matters in final communique. India's concerns on Black Money and Tax Avoidance have found an echo and have been taken on board the final G-20 communique," tweeted Ministry of External Affairs (MEA) spokesperson Syed Akbarrudin.

"Communique talks on Base Erosion and Profit Shifting Action Plan and transparency in taxpayer specific rulings constituting harmful tax practices. G-20 Summit Communique welcomes India-US understanding related to WTO on Trade facilitation with provisions on food security," he added.

Speaking at the plenary session on the subject of 'Delivering Global Economic resilience' on the second and final day of the G-20 Summit, Prime Minister Modi today asked every country, especially tax havens, to provide information for tax purposes in accordance with treaty obligations. Raising the pitch on the black money issue, the Prime Minister called for close global coordination to address the challenge posed by it.

Prime Minister Modi began his day by meeting German Chancellor Angela Merkel and Saudi Arabia's Crown Prince Salman Bin Abdulaziz Al-Saud during the ongoing G-20 Summit. Besides, he is scheduled to have a meeting with the Spanish Prime Minister later in the day.

Yesterday, the Prime Minister had met the BRICS leaders and also had one-on-one interactions with leaders from France, Canada and Saudi Arabia.

After attending the G-20 Summit in Brisbane, Prime Minister Modi is scheduled to travel to Sydney, where he will attend a reception organized by and for the Indian Diaspora.

Prime Minister Modi will then travel to Canberra and address the special joint sitting of the Australian Parliament on November 18. He will also address an Indian community event in Melbourne before travelling to Fiji.