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Luxembourg Trade Mission to India

Published Friday January 08 2010

From January 10th-13th, the Minister of Economy and Trade of the Grand-Duchy of Luxembourg, H.E. Mr. Jeannot Krecké, will lead a trade mission to India, during which he will visit the cities of Delhi, Kolkata and Mumbai.

He will be joined by companies representing different sectors of the Luxembourg economy.

On January 01th, Minister Krecké will visit Auto Expo in Delhi, where Luxembourg firms have been present during the whole week. On January 11th, he will host a seminar “Luxembourg and India: a profitable joint-venture” in the Oberoi Hotel in Delhi. The aim of this seminar is to stimulate increased trade and investment between India and Luxembourg. Other seminars will take place on January 12th in the Oberoi Hotel in Kolkata and on January 13th in the Taj Hotel in Mumbai.

Located in the heart of Western Europe between Germany, France and Belgium, the Grand-Duchy of Luxembourg is a founding member of the European Union , forming an integral part of the largest economic, customs and monetary union in the world.

The country’s main advantages are its strategic location as a gateway to the European market of over 500 million consumers, state of the art logistics and telecommunications infrastructure, a qualified multilingual workforce, an attractive legal and tax framework as well as excellent quality of life.

Luxembourg’s GDP has been growing by an average of 5% over the last 25 years and the standard of living is nowadays one of the highest in the world.

Luxembourg’s economy is highly diversified as illustrated by the presence of a wide range of business sectors, particularly in the areas of steel, chemical, plastics and synthetic materials, engineering, mechanical construction, industrial machinery, processing of ferrous and non-ferrous metals, car industry, precision instruments, electronic supplies and glass production, to name but a few sectors.

Luxembourg is home to some 149 banks drawn from 26 different countries plus numerous other related activities which make it one of the eight most important financial centers in the world. The Luxembourg Financial Centre has gained a reputation as an increasingly sophisticated market, supported by government policies which actively seek to develop the attractiveness and longevity of its core industry.

In parallel with the growth of private banking , the development of other sectors, such as the Investment Fund Sector , as well as Life Insurance, is reinforcing Luxembourg’s claim to be Europe’s premier centre for all forms of personal investment business.

Luxembourg’s aim of further diversifying market services has led to the creation and development of businesses in the fields of insurance and reinsurance, transport, commerce, tourism, telecommunications, e-commerce, audiovisual and company services.

As from January 1st 2010, the provisions of the double taxation avoidance agreement signed by India and Luxembourg in June 2008 have entered into force in Luxembourg and will be applicable in India as from April 1st2010.

Known as the "Green Heart of Europe", Luxembourg has a fully developed tourist sector. The country’s appeal is based on the charm of its capital city, which is more than a thousand years old, its rich architectural heritage, the interesting small towns spread across the country and the beauty of its natural scenery.

Whereas Luxembourgish is the national language, the entire population is also fluent in French and German. English is widely used throughout the business community as a whole.

For more information, please contact the Embassy of Luxembourg in New Delhi (email : newdelhi.amb@mae.etat.lu , tel : 0091 11 26.80.19.54)

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