PM advises G20 countries to look at confiscations to recover proceeds of crime parked abroad

economictimes.indiatimes.com:

Narendra Modi on Saturday suggested that G20 countries can set an example by using non-conviction-based confiscations to speed up recovery of foreign assets created from proceeds of crime. Modi, who was addressing the G20 Anti-Corruption Ministerial Meet here via video conferencing, stressed the importance of timely asset tracing and identification of proceeds of crime and said these measures would also «ensure swift return and extradition of criminals» after due judicial process.

He also said the highest impact of corruption is borne by the poor and the marginalised and asserted the menace affects resource utilization, distorts markets, impacts service delivery and ultimately diminishes people's quality of life. Welcoming dignitaries to the city of Nobel Laureate Rabindranath Tagore, the Prime Minister referred to the poet's writings where he had cautioned against greed as it prevents «us from realising the truth.» He also touched upon the Upanishads that strive for 'Ma Gridha', which translates to 'let there be no greed'.

Referring to Kautilya in Arthashastra, the PM said it is the government's duty to enhance the state's resources to maximize the welfare of its people. Modi suggested that G20 countries can set «an example by using non-conviction-based confiscations to expedite the recovery of foreign assets».

He added that this along with timely asset tracing, identification of proceeds of crime and swift return and extradition of criminals after the due judicial process, «will send a strong signal about our joint fight against corruption». «India has a strict policy of zero tolerance against corruption», the Prime Minister remarked as he underlined that the country is leveraging technology and e-governance to create