Global coordination on enforcement matters and to curb smuggling is important in this tech-driven era, said Finance Minister Nirmala Sitharaman, at the Global Conference on Cooperation in Enforcement Matters. The conference brings together global customs authorities and representatives from the World Customs Organisation in India. Speaking at the inaugural session of the conference, finance minister said, there is a growing need to have legislative and legal frameworks aligned among global economies, that don’t contradict each other.

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"Customs authorities should share information among themselves to curb the network of illicit trade. More importantly, the information shared should be actionable. There should be free flow of intelligence information on smuggling and authorities should take strict action on the same. Prevention of illegal trade and smuggling is important and deterrence of such activities is also important," said the finance minister in her address.

Finance Minister stressed on the importance of deterrence of illicit trade. She said that customs authorities should completely destroy what they have caught and not again put it into the market, even though it may be legitimate. FM urged the world governments to target the masterminds of the illicit trade across globe.

MoS Finance, Pankaj Chaudhary, stressed on increased partnership and the fact that in today's geo-political situation, incidents happening in two countries is impacting the entire world. Any form of supply chain disruption could shake the entire world.

"The seizure of narcotics in our neighboring countries Myanmar, Bangladesh, Maldives and Nepal between March and July 2023 based on Intelligence passed on by DRI is the latest example of how together we can end trafficking," said Chaudhary.

Chaudhary also said that irrespective of the nature of smuggling, the money received from it is not used for the development any country, rather it gives rise to the criminal world in various forms. This promotes the criminal world, terrorism, various types of economic and social problems which are disastrous.