Switzerland has announced to support India in its bid to become a member of the Nuclear Suppliers Group (NSG). Swiss President Johann Schneider-Ammann held comprehensive talks with Indian Prime Minister Narendra Modi on June 5 before announcing his country’s support to India’s membership in the elite 48-member group.
India had formally moved its application for membership of the NSG on 12 May this year. The group’s plenary meetings are scheduled to be held on 9 June in Vienna and on 24 June in Seoul, and India’s application for membership will be considered during these meetings.
Indian and Switzerland have also resolved to cooperate in combating tax evasion and black money.
“We have promised India support in its efforts to become a member of NSG,” Schneider-Ammann said at a joint media interaction.
“I am thankful to the President for Switzerland’s understanding and support for India’s membership of the NSG,” Modi said.
According to Mr. Modi, it is the “shared priority” for both the countries to combat the dangers of black money and tax evasion.
“We discussed the need for an early and expeditious exchange of information to bring to justice the tax offenders. An early start to negotiations on the agreement on the automatic exchange of information would be important in this respect,” Modi said.
“India and Switzerland have both been the voices of peace, understanding and humanitarian values in the world. In the last seven decades, our friendship has consistently seen an upward trajectory. Today, president and I reviewed our multifaceted bilateral ties. We also held detailed discussions with Swiss CEOs,” Indian Prime Minister added.
Swiss President said both countries have made significant progress in their fight against tax evasion.
Prime Minister Modi mentioned strong trade relations between India and Switzerland, and said both countries are interested in further expanding the economic engagement.
Modi said India is also ready to resume discussion on a free trade agreement with European Free Trade Association (EFTA) – the group of Switzerland, Norway, Iceland, and Liechtenstein. Currently, trade discussions between EFTA and India have stalled on a variety of issues including data safety and Intellectual Property Rights (IPR).
“We are all aware of the strengths of the Swiss economy. But, India too is undergoing profound transformations. We are today the fastest growing economy in the world. But, that alone is not enough. I want the Indian economy to be driven by smart and sustainable cities, robust farm sector, vibrant manufacturing and dynamic service sector. And, its engines to run on world class network of rail, roads, airports and digital connectivity,” Modi said.
Modi also said that India wants Swiss companies to avail of the opportunity “to be a key partner in India’s economic growth” that would ultimately benefit the whole world.
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