PM Modi, Swiss Prez discuss measures to curb tax evasion, black money

Two pacts signed between the two nations for increased co-operation in railway sector

Prime Minister Narendra Modi and Swiss President Doris Leuthard on Thursday held extensive talks on bilateral, regional and international issues and also discussed ways to deepen bilateral cooperation in combating tax evasion and black money.

Modi thanked the visiting dignitary for her country's support for India's entry into the Nuclear Supplier's Group (NSG). India is grateful to Switzerland for supporting India's membership in the Missile Technology Control Regime (MTCR), he added.

"We had productive talks on international, regional and bilateral issues," Modi said at a joint press event with Leuthard.

Asserting that transparency in financial transactions was a matter of concern worldwide, the prime minister said bilateral cooperation with Switzerland in the area continued.

The two leaders noted that India and Switzerland had very good cooperation on combating tax evasion and black money.

Leuthard was hopeful of the law on automatic exchange of information being cleared by the Swiss Parliament by the end of this year.

The two sides also inked two pacts for cooperation in the railway sector.

Earlier in the day, External Affairs Minister Sushma Swaraj called on the Swiss president and discussed various bilateral issues.

"First engagement for an honoured guest. External Affairs Minister (EAM) Sushma Swaraj called on President Leuthard and discussed wide-ranging issues of mutual interest," External Affairs Ministry Spokesperson Raveesh Kumar tweeted.

Leuthard, who is on a three-day visit, was also given a ceremonial welcome at the Rashtrapati Bhavan.

The Swiss president is accompanied by senior government officials and a large business delegation of leading Swiss companies.

Swiss presidents have visited India on three occasions earlier -- in 1998, 2003 and 2007.

Modi visited Switzerland in June last year. During the visit, the country announced its support to India's membership of the Nuclear Suppliers Group.

The two countries had also resolved to strengthen cooperation in combating tax evasion and black money.