January 20, 2016 6:50 AM

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India, UK to cooperate in infra financing, check tax evasion

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. Finance Minister Arun Jaitley, who held talks with his UK counterpart George Osborne as part of the 8th India-UK Economic and Financial Dialogue and had a series of meetings with UK-based investors and fund managers, said his visit in London had carried the economic and financial dialogue with Britain forward.<br/><br/>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.<br/><br/><br/>Britain has been cooperating and also extremely keen that large British companies, particularly involved in infrastructure financing, start investing in Indian infrastructure, Mr Jaitley told reporters at the Indian High Commission in London. During the dialogue, which included senior representatives from Finance Ministries, Central Banks and key regulators of both countries, the two leaders discussed ways to strengthen the Indo-UK existing economic partnership in order to further boost trade and investment, and to build on the success of Prime Minister Narendra Modi's recent summit with his British counterpart David Cameron in the UK.

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