G-20 to tackle corruption at summit

• Relations with India top priority: Cameron to Modi
• G20 set for 'very aggressive' crackdown on tax avoidance
• India-US breakthrough on WTO hailed as win-win' situation

Brisbane: Corruption is a perennial topic for the G-20, with leaders dubbing it a threat to global growth, and activists arguing it hurts the poorest countries the most by siphoning away desperately needed money that could be used to improve health systems, schools and roads.

Washington, DC-based advocacy group ONE has urged leaders to make the issue a top priority at this weekend's summit in Brisbane after recently releasing a report that estimates money laundering, bribery and tax evasion cost the developing world more than USD 1 trillion a year. The group also estimates that as many as 3.6 million deaths could be prevented if money drained from the poorest countries by corruption was invested in health systems.

Anti-corruption group Transparency International, Amnesty International and other human rights groups have urged G-20 leaders to deliver concrete results at the summit, calling in particular for a crackdown on the use of shell companies that hide the true owners of businesses.

Meanwhile, Prime Minister Narendra Modi held his first meeting with British Premier David Cameron who described relations with India as top priority of the UK's foreign policy and invited the Indian leader to Britain. The bilateral meeting took place shortly after Modi arrived here on a five-day visit to Australia to attend the G20 Summit beginning on Saturday.

At their meeting, Cameron told Modi that "relations with India are at the top of the priorities of the UK's foreign policy." The British Premier also invited Modi to visit the UK to which the Indian Prime Minister said he would do so at the earliest, the Ministry of External Affairs spokesman Syed Akbaruddin said. Modi told Cameron that his vision was "very inspiring" and the two countries can partner in any way they can.

Australia vowed a "very aggressive" crackdown on tax avoidance at weekend G20 talks, as a row rages over Luxembourg's sweetheart arrangements with multinationals. Closing corporate tax loopholes and endorsing a common reporting standard to increase transparency are set to be a primary focus of the G20 summit in Brisbane this weekend.But the Organisation for Economic Cooperation and Development (OECD) cautioned that if such a level playing field is achieved, it will only make competition heat up to attract revenue from digital companies like Apple and Google as tax havens are shut down. Leaders of the world's most powerful economies want to ensure companies pay taxes where they make their profits, instead of using complex financial structures that allow them to slash their liabilities, depriving governments of billions in revenue.

The resolution of a row between India and the US over food subsidies was hailed as a "win-win" situation by leading industrialised countries -- Japan, the EU and the UK -- who expressed confidence that a landmark global trade pact stalled for months can now move forward.

The recent breakthrough in the trade facilitation agreement figured prominently at the three separate bilateral meetings Prime Minister Narendra Modi had with his British and Japanese counterparts -- David Cameron and Shinzo Abe and European Commission president Herman Von Rompuy.

Separately, World Trade Organisation (WTO) Secretary-General Roberto Azevedo said the recent developments including the breakthrough by India and the US has breathed new life into the global organisation.

"All the three leaders congratulated the PM and extended their support when the matter comes up before the WTO. They also said all the countries can now move together," External Affairs Ministry spokesman Syed Akbaruddin said.