India on Thursday thanked Switzerland for its support in global multilateral organisations. Welcoming the visiting Swiss President Doris Leuthard, Prime Minister Narendra Modi sought greater cooperation to ensure bilateral financial transparency and thanked the Swiss government for its support to India’s membership bid for the Missile Technology Control Regime (MTCR).
“Globalisation and disarmament are of extreme importance for both Switzerland and India. We are really thankful to Switzerland for its support to us on the Missile Technology Control Regime,” Prime Minister Modi said, speaking in Hindi and sought greater cooperation with Switzerland within the framework of India-EU cooperation.
India became an MTCR member last year and made a serious bid for NSG membership. In both the initiatives, Switzerland supported India. Mr. Modi recollected his visit to the country last year in the run-up to the plenary session of NSG and urged closer continued cooperation in this sphere.
A joint statement issued late on Thursday stated that Switzerland has supported India’s continued quest for membership in the Australia Group and the Wassenaar Arrangement.
Black money concerns
Mr. Modi also sought Swiss support to ensure transparency in investments and said: “Transparency in financial transactions is an issue of worry to stop black money, hawala transactions and fund for terrorism. Our cooperation continues with the Swiss to ensure automatic sharing of information.”
Both sides also signed two major agreements on railways. “India is playing an important role in global political agenda. We can learn from each other,” the Swiss President said.
“We have accepted automatic exchange of information on financial issues. Hopefully, our Parliament will pass it by the end of the year. We have the strongest laws against money laundering and... we hope that the first exchange of information can begin by 2019.”