 "Switzerland backs India's bid for NSG membership")
In a major boost to its diplomatic push for Nuclear Suppliers Group (NSG) membership, India on Monday managed to win the crucial support of Switzerland, ahead of a key meeting of the 48-nation bloc.
Swiss President Johann Schneider-Ammann said: “We have promised India support in its efforts to become a member of NSG.” The two countries agreed to step up cooperation in unearthing black money stashed by Indians in Swiss banks. The prime minister thanked the Swiss president for Switzerland’s “understanding and support” for NSG membership. He also said combating the menace of black money and tax evasion was “shared priority” for both the countries.
Modi also met chief executives of several firms and sought Swiss investments to upgrade infrastructure such as railways, build Metro trains in 50 cities and 50 million affordable homes. He met prominent business leaders, including officials of ABB, Lafarge, Novartis, Nestle, Rieter and Roche. “Within my country I need to create two or three Switzerlands. So scope for partnership is immense,” he told the business leaders. “We want to have manufacturing of global standards.”
Modi said the target before him were to boost Make in India as well as human resource development. "I want to improve the skill of our workforce … to meet the needs of India but also of the world," he said, adding India has 800 million people below the age of 35 years. Switzerland, he said, has experience in both the areas and the two nations can collaborate on it.
The US and many other NSG member countries have supported India's inclusion based on its non-proliferation track record. The NSG works under the principle of unanimity and even one country’s vote against India will scuttle a membership bid.
India has been pushing for membership of the bloc for last few years and had formally moved its application on May 12 which will be taken up for consideration in its plenary meetings on June 9 in Vienna and June 24 in Seoul.
The NSG looks after critical issues relating to the nuclear sector and its members are allowed to trade in and export nuclear technology.
Its membership will help India significantly expand its atomic energy sector.
The Prime Minister is likely to raise the issue with the leadership of Mexico, another key member of the NSG.
India has stepped up its diplomatic outreach to various NSG member countries including China ahead of the group's crucial meetings.
The NSG had granted an exclusive waiver for India in 2008 to access civil nuclear technology after China reluctantly backed India's case based on the Indo-US nuclear deal.
The Swiss President said his country will "certainly contribute actively" to India's effort to get NSG membership and hailed India's contribution to non-proliferation of nuclear arms.
During the talks, Modi and Schneider-Ammann agreed to expand cooperation in tackling the problem of Indians stashing blackmoney in Swiss banks besides resolving to step up ties in areas of trade, investment and vocational training.
He also said both the sides agreed to support each other for their respective bids for the non-permanent membership of the UN Security Council.
"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.
On his part, the Swiss President said both the countries are making considerable progress in fighting tax fraud and evasion.
Indian tax authorities are probing cases of tax evasion and blackmoney stashed abroad. The probe had gained momentum after a leaked list of hundreds of Indian clients of HSBC's Geneva branch found its way to the Indian tax authorities.
Last month, Finance Minister Arun Jaitley had said India had signed an agreement with Switzerland and received details of those people having accounts in HSBC.
"We completed assessment of those people who had accounts in HSBC, Switzerland. We assessed Rs 6,000 crore black money which was in HSBC. We filed criminal cases against them," he had said.
The Prime Minister said India has affirmed its readiness to resume talks on a free trade agreement with European Free Trade Association (EFTA).
The trade talks between India and EFTA -- the grouping of Switzerland, Iceland, Norway and Liechtenstein -- have been stalled on a host of issues like Intellectual Property Rights (IPR) and data safety.
The negotiations for the FTA were launched in 2008.
"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.
The Prime Minister said both sides have agreed to build on the Swiss Vocational and Educational Training system suited to India's needs.
Modi said India and Switzerland also shared a commitment to reform international institutions in line with current global realities.
"India and Switzerland have both been the voices of peace, understanding and humanitarian values in the world. In 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," said the Prime Minister.
Talking about strong trade ties between the two countries, Modi said many Swiss companies are household names in India and both sides are keen to further expand the economic engagement.
Referring to energy security, Modi said reliance on renewable energy, rather than on fossil fuels would be India's "guiding motto".
"We see a perfect connect between our development needs and Swiss strengths. I, therefore, invite the Swiss companies to avail of this great opportunity to be a key partner in India's economic growth. Ultimately, the economic prosperity of 1.25 billion plus would also benefit the entire world," Modi said.
The Prime Minister also talked about Switzerland being a popular destination for shooting of Indian films, noting the strong ties between the people of the two countries are an important "base and benchmark" in bilateral ties.
In this regard, he also mentioned about India launching the e-Tourist Visa facility earlier this year for Swiss nationals.
"Thanks to the Indian film industry, we are very familiar with the enchanting beauty of the Swiss landscapes. But, we are also keen to welcome larger number of Swiss visitors to India," he said.
The Prime Minister also referred to Indian tennis stars Sania Mirza and Leander Paes winning a number of Grand Slams while pairing up with Swiss player Martina Hingis.
"There are many success stories of our relationship. One that has been making waves in the Grand Slams of the tennis world is the partnership of famous Swiss player Martina Hingis with Sania Mirza and Leander Paes of India.
"I am confident that our common commitments and values, people to people links and a strong and growing economic partnership will take our relations to new heights," said Modi.
Paes and Hingis had won the French Open mixed doubles last week. The pair had won the Australian Open, Wimbledon and US Open in 2015.
Swiss President Johann Schneider-Ammann said: “We have promised India support in its efforts to become a member of NSG.” The two countries agreed to step up cooperation in unearthing black money stashed by Indians in Swiss banks. The prime minister thanked the Swiss president for Switzerland’s “understanding and support” for NSG membership. He also said combating the menace of black money and tax evasion was “shared priority” for both the countries.
Modi also met chief executives of several firms and sought Swiss investments to upgrade infrastructure such as railways, build Metro trains in 50 cities and 50 million affordable homes. He met prominent business leaders, including officials of ABB, Lafarge, Novartis, Nestle, Rieter and Roche. “Within my country I need to create two or three Switzerlands. So scope for partnership is immense,” he told the business leaders. “We want to have manufacturing of global standards.”
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At a round table meeting with chief executives of leading Swiss firms, Modi spoke about the steps his government has taken to make it easier to do business in India and went on to list his targets, including generating 175 gigawatts of solar energy. The Prime Minister said he stood committed to GST and European Free Trade Association. Keeping the climate change agenda in mind, India is targeting building of 175 Gw of solar energy. “The experience of past two years has shown that we can complete it within time,” he said. Modi, however, wanted solar equipment manufacturers to come to India and innovate.
Modi said the target before him were to boost Make in India as well as human resource development. "I want to improve the skill of our workforce … to meet the needs of India but also of the world," he said, adding India has 800 million people below the age of 35 years. Switzerland, he said, has experience in both the areas and the two nations can collaborate on it.
The US and many other NSG member countries have supported India's inclusion based on its non-proliferation track record. The NSG works under the principle of unanimity and even one country’s vote against India will scuttle a membership bid.
India has been pushing for membership of the bloc for last few years and had formally moved its application on May 12 which will be taken up for consideration in its plenary meetings on June 9 in Vienna and June 24 in Seoul.
The NSG looks after critical issues relating to the nuclear sector and its members are allowed to trade in and export nuclear technology.
Its membership will help India significantly expand its atomic energy sector.
The Prime Minister is likely to raise the issue with the leadership of Mexico, another key member of the NSG.
India has stepped up its diplomatic outreach to various NSG member countries including China ahead of the group's crucial meetings.
The NSG had granted an exclusive waiver for India in 2008 to access civil nuclear technology after China reluctantly backed India's case based on the Indo-US nuclear deal.
The Swiss President said his country will "certainly contribute actively" to India's effort to get NSG membership and hailed India's contribution to non-proliferation of nuclear arms.
During the talks, Modi and Schneider-Ammann agreed to expand cooperation in tackling the problem of Indians stashing blackmoney in Swiss banks besides resolving to step up ties in areas of trade, investment and vocational training.
He also said both the sides agreed to support each other for their respective bids for the non-permanent membership of the UN Security Council.
"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.
On his part, the Swiss President said both the countries are making considerable progress in fighting tax fraud and evasion.
Indian tax authorities are probing cases of tax evasion and blackmoney stashed abroad. The probe had gained momentum after a leaked list of hundreds of Indian clients of HSBC's Geneva branch found its way to the Indian tax authorities.
Last month, Finance Minister Arun Jaitley had said India had signed an agreement with Switzerland and received details of those people having accounts in HSBC.
"We completed assessment of those people who had accounts in HSBC, Switzerland. We assessed Rs 6,000 crore black money which was in HSBC. We filed criminal cases against them," he had said.
The Prime Minister said India has affirmed its readiness to resume talks on a free trade agreement with European Free Trade Association (EFTA).
The trade talks between India and EFTA -- the grouping of Switzerland, Iceland, Norway and Liechtenstein -- have been stalled on a host of issues like Intellectual Property Rights (IPR) and data safety.
The negotiations for the FTA were launched in 2008.
"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.
The Prime Minister said both sides have agreed to build on the Swiss Vocational and Educational Training system suited to India's needs.
Modi said India and Switzerland also shared a commitment to reform international institutions in line with current global realities.
"India and Switzerland have both been the voices of peace, understanding and humanitarian values in the world. In 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," said the Prime Minister.
Talking about strong trade ties between the two countries, Modi said many Swiss companies are household names in India and both sides are keen to further expand the economic engagement.
Referring to energy security, Modi said reliance on renewable energy, rather than on fossil fuels would be India's "guiding motto".
"We see a perfect connect between our development needs and Swiss strengths. I, therefore, invite the Swiss companies to avail of this great opportunity to be a key partner in India's economic growth. Ultimately, the economic prosperity of 1.25 billion plus would also benefit the entire world," Modi said.
The Prime Minister also talked about Switzerland being a popular destination for shooting of Indian films, noting the strong ties between the people of the two countries are an important "base and benchmark" in bilateral ties.
In this regard, he also mentioned about India launching the e-Tourist Visa facility earlier this year for Swiss nationals.
"Thanks to the Indian film industry, we are very familiar with the enchanting beauty of the Swiss landscapes. But, we are also keen to welcome larger number of Swiss visitors to India," he said.
The Prime Minister also referred to Indian tennis stars Sania Mirza and Leander Paes winning a number of Grand Slams while pairing up with Swiss player Martina Hingis.
"There are many success stories of our relationship. One that has been making waves in the Grand Slams of the tennis world is the partnership of famous Swiss player Martina Hingis with Sania Mirza and Leander Paes of India.
"I am confident that our common commitments and values, people to people links and a strong and growing economic partnership will take our relations to new heights," said Modi.
Paes and Hingis had won the French Open mixed doubles last week. The pair had won the Australian Open, Wimbledon and US Open in 2015.