India's Experience with Exchange of Information Agreements
Given the global momentum towards creating an institutional framework which will enable countries to curb Illicit Financial Flows (IFFs), it would be useful to look at the existing international financial regulatory and taxation framework. Studying the current institutional architecture could help in identifying and subsequently remedying the potential loopholes in the current architecture. A study of this nature could also highlight the potential hurdles in the implementation of practices aimed to curb IFFs at the national level, especially by developing countries. Towards this end, this study seeks to treat India and its use of the Exchange of Tax Information framework to curb IFFs, as a model for other developing countries. India was chosen for this study as the country has been one of the most vocal ones to support these issues on international forums and has had exchange of information agreements in place for several decades. It can also act as a model for other developing countries in terms of concerns, resources and priorities.