This apart, he said, all countries must also follow Common Reporting Standard based on Automatic Exchange of Tax Information – as mandated by the OECD (Organisation for Economic Cooperation and Development) for better global understanding and standards to fight tax evasion. A few of the UK’s largest companies, including Unilever, HSBC and British American Tobacco, have deep roots in India, while newer brands such as Costa Coffee and Vodafone are also working hard to prosper in the country.
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DW: What will be the top issues on the agenda during PM Modi’s Singapore visit?
He said that despite “all the hoopla” created by the Modi government around “Make In India” initiative, Indian exports have contracted for 11 straight months now and plummeted by 17.6 per cent to just $154.29 billion in October.
Modi also touched upon the impact of India’s growth on environment. “We strongly believe that India has huge potential and the policies of the Indian government to open more sectors to FDI, bring manufacturing through its “Make in India” campaign and investment in infrastructure should bode well for a bright future for the country”.
In Singapore, he will hold deliberations with Prime Minister Lee Hsien Loong on ways to enhance bilateral ties on the occasion of commemoration of 50th anniversary of our diplomatic ties.
Prime Minister Modi said all elements of the WTO’s Bali pact should be fully implemented for realizing a transparent and non-discriminatory global trading system. Swarup described Saudi Arabia as “a very important partner in the Gulf Region” as he posted photographs of the two leaders holding discussions. Modi’s visit has managed to successfully put India-UK ties back on track and to redefine the terms of the relationship when India is no longer a supplicant but an emerging power, even providing jobs to the British economy.
An editorial “The Modi show” in the News global on Tuesday said that coming “at a time when India’s growing intolerance under the BJP government is making the news, the visit of Modi to the United Kingdom garnered sufficient controversy”.
“Wadhwa further said Singapore supports India in the United Nations Security Council for our permanent membership and the UNSC reforms and they have also always supported India’s entry into ASEAN”.
He will also address the Indian diaspora. “This is likely to be focused on economic activities”, said Gopinath Pillai, Chairman of the Institute of South Asia Studies, a think-tank of the National University of Singapore.
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Of Malaysia’s total population of around 30 million, two million people trace their origin to India. Singapore, as a signatory to the Trans-Pacific Partnership and as negotiator of the China-led pan-Asian Regional Comprehensive Economic Partnership, can help India expand into Asia, according to Girija Pande, Executive Chairman of Apex Avalon.
