India pushes G20 for consensus on fugitive economic offenders

New Delhi

India is urging the G20 nations to form a united front against fugitive economic offenders, with aims of expediting their extradition and ensuring the swift recovery of assets both within the country and overseas.

The assertion was made by the Union Minister for Personnel, Public Grievances and Pensions, Jitendra Singh, during an interview with Doordarshan News. Singh will be heading to Kolkata for the imminent G20 Ministerial meeting and the conclusive session of the G20 Anti-Corruption Working Group (ACWG) scheduled for tomorrow.

India’s Presidency will oversee the third and final meeting of the G20 ACWG, set to take place from August 9-11, 2023, in Kolkata. The event has garnered the participation of over 154 delegates from G20 member nations, ten guest countries, and a myriad of international entities. Following this, the G20 Anti-Corruption Ministerial Meeting will convene, with Minister Singh presiding.

Drawing attention to past actions, Minister Singh reminded that it was Prime Minister Narendra Modi who proposed a comprehensive nine-point agenda targeting fugitive economic criminals during his speech at the G20 Summit in Buenos Aires, Argentina. PM Modi emphasised the necessity for international cooperation, particularly in areas like freezing assets acquired through crime, expedited repatriation of such assets, and prompt return of the perpetrators.

Recognizing the global challenge posed by economic offences, Singh said, “While there’s a shared understanding among nations regarding the extradition of fugitive economic culprits and asset recovery, the diverse laws across member states present hurdles.” He expressed optimism, hinting at an emerging consensus for a collaborative approach to address this issue. Advanced technological interventions are also being considered to bolster efforts.