India and the UK have agreed to strengthen their economic cooperation in infrastructure and financial services as they vowed to address cross-border tax evasion and avoidance.
India and the UK have agreed to strengthen their economic cooperation in infrastructure and financial services as they vowed to address cross-border tax evasion and avoidance.
Union finance minister Arun Jaitley, who held talks with his UK counterpart George Osborne as part of the eighth India-UK Economic and Financial Dialogue and had a series of meetings with UK-based investors and fund managers, on Tuesday said his visit here had carried the economic and financial dialogue with Britain forward. After talks between Mr Jaitley and Mr Osborne, a joint statement was issued that talked about advancement of cooperation in a range of sectors including infrastructure financing, addressing issues of cross-border tax evasion and avoidance besides opening up of the Indian legal sector to foreign lawyers.
“From the Indian point of view, we were extremely interested in having the British investors look at infrastructure investments in India for which various possibilities were discussed. UK has been cooperating and keen that large its firms will start investing in India,” he said.
“The possibility of their investing, either directly in projects or through the National Investment and Infrastructure Fund (NIIF) that we have created, were both discussed,” he told reporters at the Indian high commission here.
Senior representatives from finance ministries, Central banks and key regulators of both countries were present during the talks.
