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Tuesday 7 July 2020

Fugitive economic offenders: India urges G20 to corner frauds

We have been working on tax evasion, corruption, economic offences and fugitive offenders running away: Suresh Prabhu at the G20 summit

Osaka: India has pitched strongly to deal with fugitive economic offenders, and Prime Minister Narendra Modi has flagged the issue at all global forums, the country’s Sherpa to G20 Suresh Prabhu said Saturday.

“We strongly put forward the need to deal with fugitive economic offenders. It has been a strong agenda, we have been working on tax evasion, corruption, economic offences and fugitive offenders running away (from the country). We have also been very strongly championing this,” Prabhu told a media conference, detailing about the deliberations of the meeting.

Prabhu said that Prime Minister Modi has raised these issues at all global forums.
“We strongly feel that we as a global community must act in unison to deal with such issues of people committing economic offences and running away from their national domicile country,” he told reporters to post Sherpa’s meeting.

On the query that why India didn’t join the Osaka declaration on the digital economy, Prabhu said the reasons have been communicated to the Japanese Prime Minister Shinzo Abe.

But, Prabhu also clarified that India strongly believes in the digital economy and has taken a host of measures, including a huge number of bank accounts to thrust its digital agenda. “India has a very massive programme on digital transactions. We have opened bank accounts of a large number of people. Many transactions are happening through the digital forms,” he said.

Prabhu, who was the Railways minister in the first term of the NDA government, also informed that the country’s railways have almost 8.1 billion passengers per year, and many of them buy tickets through digital platforms. “So, digital is something which we all believe in, we have a market which is growing including the e-commerce market. Therefore, we believe in that digital economy and also at the same time we have a very close relationship with our dear friend Japan but we have already communicated the reasons to them,” Prabhu said.

Prabhu said India’s Prime Minister Modi has been championing the cause of “anti-corruption measures at all levels”.

“So, fight against corruption should be done at all levels by all the G20 members by combating foreign bribery and ensure each G20 country has a law to enforce it, that people committing economic crimes in one geography will not be able to run away to the other and escape the clutches of law,” Prabhu said.

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