India has the third-highest trade-related illicit financial flow globally

Published: March 4, 2020

US-based think tank Global Financial Integrity (GFI) recently released a report titled “Trade-related Illicit Financial Flows in 135 Developing Countries: 2008-2017”.

As per the report, five countries with the largest gaps were China ($457.7 billion), followed by Mexico, India, Russia and Poland. India has the third-highest trade-related illicit financial flow escaping the government’s tax net, with $83.5 billion (Rs 6.14 trillion), equivalent to 3.05 per cent of GDP).

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