Black money repatriation is priority: Modi

Brisbane: Ahead of his first appearance at the G20 summit, Prime Minister Narendra Modi on Saturday raised the issue of black money in an informal meeting with the BRICS leaders. Modi said repatriation of unaccounted money kept abroad is a key priority for India. Calling for close coordination on unaccounted money kept abroad, Modi said that such money is also linked to security challenges.

He also called for close coordination on unaccounted money kept abroad and it poses security challenges.

Ministry of External Affairs (MEA) official spokesperson, Syed Akbaruddin, took to Twitter to quote Modi on the issue. “Repatriation of unaccounted money kept abroad is a key priority for us-PM @narendramodi to BRICS ahead of G-20 Summit,” he tweeted.

Another tweet stated, “At BRICS meet ahead of G-20 PM @narendramodi calls for “Close coordination on unaccounted money kept abroad”.

India is also expected to urge the G20 to pressure tax havens into revealing more information on black money from India to help retrieve this illegal money. Besides Modi, Chinese President Xi Jinping, Russian President Vladimir Putin, South African President Jacob Zuma and Brazilian President Dilma Rousseff, were the other leaders who took part in the informal interaction.

The MEA spokesperson also tweeted, “Unaccounted money abroad is also linked to security challenges – PM @narendramodi ahead of G-20 Summit in Brisbane”.

Earlier in the morning Prime Minister Modi arrived at the venue of the G20 Summit to participate in the meeting which will be attended by leaders from 20 nations around the world in the likes of US President Barack Obama, Russian President Vladimir Putin among others.

Later during the day, Modi is scheduled to meet French President Francois Hollande and Canadian PM Stephen Harper. The PM is also likely to have bilateral meets with US President Barack Obama and German Chancellor Angela Merkel over the weekend.

After attending the G20 Summit in Brisbane, Prime Minister Modi is scheduled to travel to Sydney, where he will attend a community reception and address the Indian Diaspora.

The Prime Minister will then travel to Canberra and address the special joint sitting of the Australian Parliament on November 18. He is also to address a community event in Melbourne before travelling to Fiji.