Home / BUSINESS / G20 summit: India pitches strongly for fight against fugitive economic offenders – Livemint

G20 summit: India pitches strongly for fight against fugitive economic offenders – Livemint

New Delhi: Countries should come together to deal with economic offenders escaping to other geographies to get away with their crimes, Prime Minister Narendra Modi’s Sherpa at the G20 summit Suresh Prabhu said on Saturday.

“Fight against corruption should be done at all levels by all G20 countries by combating and ensuring that each G20 country has a law to enforce it. People committing economic crimes in one geography will not be able to run away to the other or escape the law,” Prabhu said, adding, Prime Minister Narendra Modi had raised this issue at all global forum.

While Prabhu did not take any name, his comment comes after billionaire jeweller Nirav Modi and his uncle Mehul Choksi’s alleged attempt to dupe Punjab National Bank of 14,000 crore. Both Choski and Modi fled to Antigua and the UK, respectively.

Last year, the India government also passed a law to crack down on fugitive economic offenders who refused to get back to the country to avoid investigation by India authorities. Nirav Modi was arrested in London in March.

Heads of various nations, including India, the US, Australia, among others, met at the G20 summit in Japan’s Osaka during June 28-29 to address major global economic concerns and pave the way for inclusive and sustainable growth, by dealing with social, economic and environmental challenges.

Prabhu said the infusion of technology created economic opportunities, helped bridge the digital divide and improve the quality of life.

Prabhu also said that India strongly believed that climate change was a reality, the biggest threat to humanity and the country was focusing on clean and renewable energy to generate power.

India is taking aggressive steps to mitigate the effects of climate change and is expanding its renewable energy generation rapidly. It is also encouraging its automobile industry to shift to electric mobility in a big way.

Asia’s third-largest economy, which frequently faces drought and flood situations, has also taken leadership in exploring solar power solutions to reduce fossil fuel dependence under the International Solar Alliance. India’s emphasis on the importance of finding solutions to climate change effects come at a time when the world’s-largest economy, the US, is determined to pull out of the Paris climate change agreement of 2016. US President Donald Trump had in 2017 announced his decision to pull out of the accord saying it was unfair to the US.

G20 summit: India pitches strongly for fight against fugitive economic offenders – Livemint

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