Last updated: Aug, 2016
I recently met with the Ambassador of Luxembourg to India, Mr Gaston Stronck. The discussion was engaging as it spanned over topical themes, the changing global economic dynamics being at the core of it. What one also realises is that there are deeper opportunities to be explored by countries in the spheres of trade and investment – not only bilaterally but also in third world countries. It, however, calls for a good understanding of the state of the economy and business of the countries in context. And my discussion with the Ambassador prompts me to open a new section on our website whereby we intend presenting to you the opportunities that also abound for Indian businesses in markets overseas. So we are beginning with Luxembourg and sharing with you the information that Mr Stronck would like to present on his country.
Aparna Dutt Sharma, CEO, IBEF
Located in the heart of Europe, Luxembourg is the ideal gateway to the European market with over 500 million consumers. Due to its political and social stability, skilled and multilingual workforce, state-of-the-art infrastructures, excellent connectivity to markets, favorable legal environment and attractive tax climate, Luxembourg offers an exceptional range of assets and opportunities for doing business in Europe.
The Luxembourg Government has always pursued a pro-active economic development policy, making possible for Luxembourg to become an international financial centre and establishing itself as a prime business location. Recently the Government has put emphasis on emerging and innovative technology-based activities such as ICT, e-commerce, media, automotive components, materials, plastics, logistics, environmental and health technologies.
Luxembourg offers a wide range of assets and opportunities for doing business in Europe especially for Indian companies' active in the IT business for example. Major Indian players such as TCS have already established offices in Luxembourg. The new Double Tax Treaty signed recently between India and Luxembourg is intended to stimulate bilateral trade and it will be a booster for both the business communities as it creates a favorable framework to further stimulate our long lasting trade and economic relationship. Today, more and more Indian companies are interested in investing in Luxembourg as the treaty offers a competitive and secure environment to tap into the European market.
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