Switzerland, the world’s largest offshore financial center once is losing the jazz,for some firms. International regulators are cranking up scrutiny of the industry and profit margins are narrowing. Gopichand Hinduja an Indian billionaire based out in London, believes that Switzerland’s importance as a banking hub would shrink with increased tax transparency. People are now looking for new options in the Gulf countries to place their assets. According to Hinduja people are finding new havens, because Switzerland has failed to maintain its importance in the Pv.t banking sector. The no- questioned swiss banks are now being questioned due to the new system of bank-data exchange between Governments.
Hinduja is a Co-Owner of Hinduja Group, which is an industrial conglomerate. They work in the sector of automobiles, finance, media and energy.