New Delhi: India opened the 18th plenary meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in New Delhi on Tuesday, bringing together 172 member jurisdictions for four days of deliberations on strengthening tax transparency and international cooperation.
The meeting, held under the theme “Tax Transparency: Delivering a Shared Vision Through International Cooperation”, was inaugurated by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. In her address, she welcomed participants and drew attention to the shift from financial secrecy to global openness, noting that transparency is now seen as essential for fairness and responsible governance.
She said, “transparency touches upon the deeper principle that economic governance must rest on fairness and responsibility”, and described it as a foundation for sustainable development. Observing the consequences of tax evasion, she noted that “when national wealth escapes legitimate taxation, it creates both a revenue and a development gap”. She highlighted that India’s improvements in voluntary compliance have come not only through enforcement but also through clarity, simplification and trust-building. While acknowledging the role of technology and AI, she cautioned that innovation must be balanced with procedural integrity. She added that trust between jurisdictions has real economic value and pressed for continued cooperation on issues such as the digital economy and the evolving nature of beneficial ownership.
Minister of State for Finance Pankaj Chaudhary described the gathering as evidence of the progress made in establishing a cooperative, rules-based tax framework. He said that timely access to cross-border information has shifted from being a challenge to becoming a practical reality, strengthening enforcement and reassuring taxpayers. He called for an approach where facilitation and transparency advance together, making compliance more natural. “Inclusivity is an operating principle rather than just a slogan,” he said while urging continued capacity building for developing countries. He added that tax standards must adapt to new commercial models, digital operations and emerging asset classes while retaining confidentiality and fairness.
Revenue Secretary Arvind Shrivastava said the Global Forum reflects how multilateral cooperation can reshape global norms, shifting the world from banking secrecy to shared transparency standards. He noted India’s successful implementation of the Automatic Exchange of Information standard since 2017, supported by secure IT systems and data analytics that convert supplied information into usable intelligence. He pointed to domestic efforts such as the Black Money Act and the Benami Transactions Act, which, when combined with international cooperation, help protect the tax base. Reinforcing India’s support for South–South cooperation, he stressed that the gains of transparency should be shared equitably. He identified taxation of the digital economy and crypto-asset reporting frameworks as pressing priorities for collective action.
This year’s plenary will review the implementation of transparency standards, including Exchange of Information on Request and the Automatic Exchange of Financial Account Information. Sessions will feature peer review updates, regional discussions across Africa, Asia and Latin America, presentations on the annual work programme and deliberations on the Crypto-Asset Reporting Framework and the Group on Risk. Participation includes heads of tax administrations, Competent Authorities and several ministerial-level representatives.
India, a founding member since 2009, holds positions in the Steering Group, the peer review groups for both EOIR and AEOI, the Group on Risk and the CARF Group. It also served as Co-Chair of the Asia Initiative for 2023–24 and has supported developing jurisdictions through training programmes, seminars and consultations.
During the plenary, India will reiterate its commitment to global tax cooperation. During its G20 Presidency in 2023, India promoted an inclusive approach that expanded the wider use of exchanged information for compliance and brought more developing jurisdictions into the Common Reporting Standard framework. These efforts have now evolved into ongoing programmes within the Global Forum and the OECD.
Over the next few days, delegates will focus on reinforcing the implementation of global standards, strengthening administration and ensuring that all jurisdictions, irrespective of size or capacity, benefit from transparency. India has welcomed participants to New Delhi and expressed hope for constructive discussions aimed at building a fair, transparent and inclusive international tax system.
BI Bureau
