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India, Seychelles sign information exchange pact

News:

  • In its fight against black money, India signed an information exchange agreement with Seychelles on tax matters, along with pacts to deepen ties in security and defence among other areas.
  • India and Seychelles also signed four other agreements including one on air connectivity and the other for supply of a Dornier aircraft to the island nation.
  • The agreement on tax information exchange, signed after talks between Prime Minister Narendra Modi and the visiting Seychelles President James Alix Michel.
  • This would help curb tax evasion and provides for mutual assistance between the authorities of the two countries on enforcement action against suspected tax evaders along with other related matters.
  • India also handed over the navigational charts relating to Aldabra island of Seychelles. Aldabra is the world’s second largest coral atop.
  • It is home to the world’s largest population of giant tortoises and is extremely isolated, making it virtually untouched by human.
  • Modi said he and the Seychelles President place strong emphasis on ‘Ocean or Blue Economy’ and stressed on a need to look at “small island countries as large ocean states with vast potential”.
  • India and Seychelles also signed a protocol on framework of cooperation in the field of blue economy.

Source: ET

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