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Swiss President Doris Leuthard to arrive for 3-day visit to India on Aug 30

India may raise the issue of black money stashed by its citizens in Swiss banks.

india Updated: Aug 28, 2017 17:14 IST
Press Trust of India
Press Trust of India
Press Trust of India, New Delhi
Doris Leuthard,Switzerland,India
Swiss Federal President Doris Leuthard (AFP File Photo)

Swiss president Doris Leuthard will pay a three-day visit to India beginning Wednesday during which both sides will hold extensive talks on entire gamut of bilateral relationship including on ways to ramp up trade and investment ties.

Leuthard will meet President Ram Nath Kovind and hold talks with Prime Minister Narendra Modi, the ministry of external affairs (MEA) said.

In the talks, the Indian side may raise the issue of black money stashed by Indians in Swiss banks.

“India and Switzerland enjoy robust economic ties, with Switzerland being seventh largest trading partner and eleventh largest foreign investor for India.

“Both countries share common views on many major global issues. The upcoming visit will provide an opportunity to both sides for holding wide-ranging discussions on bilateral, global and regional issues of mutual interest,” the MEA said in a statement.

Leuthard will be accompanied by senior government officials and a large business delegation of leading Swiss companies.

Swiss Presidents have visited India on three occasions earlier in 1998, 2003 and 2007.

Besides Vice President M Venkaiah Naidu, members of the council of ministers including the minister for external affairs will also call on the Swiss president separately.

Modi had visited Switzerland in June last year during which the country had announced its support to India’s membership of the Nuclear Suppliers Group.

The two countries had also resolved to strengthen cooperation in combating tax evasion and black money.

Modi, then, had said combating the menace of black money and tax evasion was “shared priority” for both the countries.

First Published: Aug 28, 2017 17:14 IST