India's Modi: co-operation with Swiss on tax-evasion fight

GENEVA – Indian Prime Minister Narendra Modi says his country and Switzerland have a “shared priority” in fighting tax evasion and the practice of squirreling away “black money” in Swiss banks.

Modi spoke Monday to reporters alongside Switzerland’s president in a brief stop in Geneva as part of a five-country trip. Modi’s next stop is Washington.

The Indian leader pointed to “the need for an early and expeditious exchange of information to bring to justice the tax offenders.”

President Johann Schneider-Ammann said Switzerland will dispatch a state secretary for international financial matters to India on June 14 to explore tighter co-operation on the matter.

Schneider-Ammann said he and Modi did not discuss any figures about the number of Indian tax evaders or the total value of their assets involving Switzerland.