India’s quest for black money stashed in Swiss banks are likely to remain evasive. Though up till now not much has come out for the Modi government, it will have tough time explaining the delay. A Supreme Court monitored SIT is already looking into the issue of black money. The leaked Panama Papers also figure some of the prominent personalities. One of the first decisions of the NDA government was to notify constitution of Special Investigation Team (SIT). On 24th May, 2014 the first Cabinet meeting of the Narendra Modi government constituted the SIT to dig out black money which was directed to be set by the Supreme Court. Tax avoidance is an inevitable feature of any tax system, but the reason this particular form of avoidance grows and grows without bounds is that powerful politicians in powerful countries have chosen to let it happen. Now, Narendra Modi government has drawn the attention of world leaders, including British Prime Minister David Cameron, to the UN Convention Against Corruption (UNCAC) which says that countries should extend cooperation in giving information on stolen or unaccounted assets. India also pointed to the leaders and their representatives that nations should not hide behind bank secrecy laws when it comes to sharing information on “unaccounted money” lying in their banks and other financial institutions. India will support the reporting on “tax information for large multinational enterprises” and that “India will take steps required for preventing corruption in government, its institutions and in businesses”. India’s statement in the summit made it clear about its commitment on the issue of return of unaccounted wealth from safe havens and for persistent and consistent efforts on asset recovery. India has called upon all the partner countries to ensure cooperation in dissemination of information without any impediment of bank secrecy laws, to the requesting country. More recently, the European Union has successfully put pressure on Switzerland to change its laws to make it easier for the EU to catch people engaged in criminal tax evasion. Is it that India too is seeking such changes?