16 Nov 2014
Source: Niti Central
Prime Minister Narendra Modi addressed a session at G-20 Summit in Brisbane Australia. He spoke at length on the topic “Delivering Global Economic Resilience”.
The main points he covered during his speech are:
“Need for policy coordination among major economies remains strong.”
“Although we each have our domestic priorities, coordinated decisions may help us all in the long run.”
“Increased mobility of capital and technology have created new opportunities for avoiding tax and profit shifting.”
“Urge every jurisdiction, especially tax havens, to provide information for tax purposes in accordance with treaty obligations.”
“Close coordination is important not just for also addressing the challenge of black money but also security issues like terrorism, drug trafficking, arms smuggling.”
“I support all initiatives to facilitate exchange of information and mutual assistance in tax policy and administration.”
“Hope Based Erosion and Profit Shifting (BEPS) system would fully address concerns of developing and developed economies.”
“Resilience of our financial system will also depend on cyber security.”
Before addressing the G-20 Summit he also had a long discussion with German Chancellor Angela Merkel.
At the meeting German Chancellor said that
“Our relations are deepening … Waiting for your visit.”
Yesterday PM had also met Crown Prince Salman bin Abdulaziz Al Saud of the Kingdom of Saudi Arabia.