Economic and financial partnership advances bilateral cooperation on macroeconomic recovery, regulatory collaboration, climate finance and AML/CFT commitments.
The eighth ministerial meeting advanced bilateral cooperation on macroeconomic recovery from COVID-19, financial regulatory and technical collaboration, multilateral engagement, climate finance mobilization, and AML/CFT frameworks, with commitments to continue collaboration at bilateral and multilateral fora and an adopted Joint Statement setting areas for ongoing engagement.

India US strategic partnership central to Indo Pacific stability and expanded cooperation in trade, supply chains and technology.
Close India-US strategic partnership is framed as central to a free, open Indo Pacific, with convergence on defence, trade, energy, health and innovation. The statement stresses supply chain resilience based on trust, India's negotiation of FTAs with like minded partners, and domestic reforms-National Infrastructure Pipeline, tax simplification, liberalised FDI and support for R&D-aimed at strengthening 24 priority sectors and enabling a shift from 'Make in India' to 'Make in India for the world' alongside cooperation in electronics, fintech, ed tech, pharma and biotechnology.

Undisclosed foreign assets enforcement: Pandora Papers probes to proceed with cross border information exchange and multi agency monitoring.
Investigations have been initiated into Pandora Papers disclosures with Indian agencies probing offshore structures and the Government engaging foreign jurisdictions for information, while employing the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015; Pandora Papers cases will be monitored by a Multi Agency Group comprising tax, enforcement, financial intelligence and monetary authorities.

Strike-off of inactive companies under section 248 guided by red flag identification and a special drive leading to removals.
Strike-off of companies for prolonged non operation has been effected by the Registrar of Companies by invoking Section 248(1) where the RoC believes a company has not carried on business for the two immediately preceding financial years and has not applied for dormant status under Section 455; a Special Drive applied this mechanism and the Ministry reported 12,889 companies struck off in 2020-21.

Shell company identification: government used red flag indicators and strike off powers to remove non operational entities from the register.
The Government announced an administrative initiative targeting entities characterised as shell companies-companies without active operations or substantial assets that may facilitate tax evasion, money laundering, concealment of ownership and benami holdings-noting the Companies Act has no statutory definition and relying on red flag indicators recommended by a Special Task Force. A Special Drive used the statutory strike off mechanism, with RoC wise strike off data published to show removal of non operational entities from the register.

Startup recognition eligibility enables DPIIT to list eligible startups on Showcase after Apex Committee selection and no-dues declaration.
DPIIT operates the Startup India Showcase as an online discovery and networking platform for DPIIT-recognized startups. Selection is carried out by an Apex Committee from applications, state recommendations, and other nominees; selected startups must provide a self-declaration of no dues to statutory bodies before their profiles are published. The platform offers multimedia profile visibility, social and direct-connect links, search and filter discovery tools, and aggregates startups validated by competitions or procurement for priority consideration by government and corporate buyers.

Exchange of information and assistance in collection enables cross border tax cooperation and recovery of outstanding tax claims.
The agreement establishes a framework for Exchange of Information and Assistance in Collection between India and Saint Vincent and The Grenadines, enabling mutual exchange of taxpayer information including bank and beneficial ownership data and cooperation in recovering outstanding tax claims. It includes provisions for tax examination abroad, allowing representatives to enter the other State, subject to domestic law, to interview individuals and examine records for tax purposes, thereby strengthening cross border tax cooperation and transparency to address offshore tax evasion and avoidance.

Automatic Exchange of Information deters undeclared foreign assets; ministry says reported Swiss deposit rise unlikely from undeclared incomes.
Ministry of Finance rejects media claims that reported Swiss deposit increases represent undeclared "black" money, noting customer deposits and fiduciary funds fell while the rise is mainly in other amounts due from customers such as bonds and securities. India and Switzerland have activated Automatic Exchange of Information under the Multilateral Convention and the Multilateral Competent Authority Agreement, with exchanges in 2019 and 2020 providing a deterrent to tax evasion. The Ministry cites alternative commercial explanations for deposit changes and has requested factual clarification from Swiss authorities.

Emergency Liquidity Measures extend targeted credit support to healthcare and small businesses under RBI schemes to alleviate pandemic stress.
The Reserve Bank announces targeted monetary and regulatory measures to mitigate pandemic stress by opening an on tap term liquidity facility to finance COVID related healthcare and by extending priority sector classification to such lending. It authorises special long term repo operations for small finance banks to support last mile credit, permits SFB lending to eligible microfinance institutions as priority sector, and extends incentives for new MSME credit. A Resolution Framework 2.0 is provided for eligible stressed retail, small business and MSME exposures, alongside KYC rationalisation and permission to utilise floating provisions and the countercyclical buffer for specific NPA provisioning.

Consent-based open banking secures customer-controlled financial data sharing while requiring standardized consent, security, and grievance mechanisms.
Open banking in India relies on a consent-based data sharing model implemented via licensed Account Aggregators (AAs) which mediate API-driven transfers between Financial Information Providers (FIPs) and Financial Information Users (FIUs). AAs must obtain standardized electronic customer consent, cannot store or repurpose data, and operate under prescribed technical specifications, IT governance, data security, and customer grievance redressal requirements. The hybrid regulatory approach combines licensing and facilitation to promote innovation while addressing privacy, cybersecurity, liability, and supervisory challenges.

Shell company identification triggers regulatory strike-off and exchange surveillance measures to curb misuse and illicit financial activity.
Persistent non filing of financial statements prompted identification of entities described as shell companies, leading to large scale strike offs through the Companies Act removal framework. A Special Drive using red flag indicators has been used to detect and remove such companies, while securities regulator referrals prompted exchange surveillance, restrictions on promoter and director share transfers, verification of fundamentals, and investigations by company law investigators.

e commerce regulation: investigations under competition and foreign exchange rules underway, and bank cashback practices examined.
Regulation of e commerce involves multiple statutes with the Competition Act (including Section 3 and Section 4) applicable to platforms, and FDI in e commerce governed by Press Note 2(2018) read with SI No.15.2 of the FEMA (Non Debt Instruments) Rules, 2019. Representations by traders alleging FDI/FEMA non compliance were forwarded to the Enforcement Directorate which has taken up investigation; alleged biased bank cash back and discount practices on certain e commerce sites are being examined by the Competition Commission of India. No RBI or ED investigation has been initiated concerning alleged FDI/FEMA violations in the Flipkart-Aditya Birla deal.

Access to bare necessities: expanded public programmes improved household service access, reducing disparities and enhancing health and education outcomes.
The Economic Survey creates a Bare Necessities Index (BNI) using 26 indicators across five dimensions to measure state level access to housing, water, sanitation, micro environment and other household facilities for 2012 and 2018; it reports overall improvement, reduced inter state disparities, larger gains for the poorest households, and associates expanded public programmes with better health and education outcomes.