India is considering a proposal to expand its Customs Overseas Intelligence Network across Asia for checking cross-border illegal trade and blackmoney besides gathering information on commercial frauds.
A proposal in this regard is under consideration of the Ministry of External Affairs, sources said.
The network, which functions under the Directorate of Revenue Intelligence under the Finance Ministry, plays a pivotal role in exchange of information related to cross-border illegal trade.
At present, there are nine Customs Overseas Intelligence Network (COIN) offices in various cities including London and Brussels. The Finance Ministry has recently approved two COIN offices in China, the proposal which has been agreed upon by the MEA.
“Two COIN offices are yet to be established in China. There has been an in-principle approval on it by the Finance Ministry and the MEA. The MEA is also looking into the possibility of opening few more such offices in Asian nations. However, no final decision has been taken so far,” a source said.
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