Black money is no more an issue with India says Swiss envoy
Traditionally, Switzerland was seen as a safe tax haven for Indian businessmen, politicians and industrialists.
9 January, 2023
Traditionally, Switzerland was seen as a safe tax haven for Indian businessmen, politicians and industrialists.
According to Automatic Exchange of Information agreement signed by India and Switzerland, India received the first set of list of Indians having Swiss Bank accounts
Since Modi came to power, money parked by Indians in Swiss banks started reducing drastically
In about a decade the funds held by Indians with Swiss banks went down to almost one-tenth
The court as a result rejected an appeal by two Indian citizens
The current amount in Swiss banks is even less than one-third of the amount reported in 2014.