July 26, 2011 2:09 PM

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Amended Indo-Swiss DTAA to be reinforced by year-end, says Pranab

Finance Minister Pranab Mukherjee has said that the protocol signed by India and Switzerland to amend their existing Double Taxation Avoidance Agreement so as to facilitate information sharing on black money stashed away in Swiss banks may come into force by the end of this year. Mr. Mukherjee said this while speaking to the media at the India House in london on Tuesday evening. He said, India have signed a protocol amending the existing Double Taxation Avoidance Agreement with Switzerland last August. He said, as per their law and Constitution, their international agreements are to be ratified by both houses of Parliament and local authorities. He said, the ratification by the two houses are over and ratification by local authorities may be over by the end of this year.Earlier, addressing a joint press conference with Britain's Chancellor of Exchequer George Osborne, Mukherjee said India plans to double its exports in the next years to reach USD 500 billion. He said, the government has announced a manufacturing policy to increase the share of manufacturing from the present 16 per cent to a level of 25 per cent of the GDP over the next decade. He added there are significant opportunities for British investment in India, particularly in the infrastructure space.

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