Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>India and Luxembourg have signed three new bilateral agreements after leaders of the two countries held their first formal interaction in over two decades.</li><li>All three agreements are in the financial space to promote trade ties between India and Luxembourg with the latter being the third largest foreign investor in India. </li><li>The Ministry of External Affairs Joint Secretary revelaled that discussions around the India-EU Trade and Investment Agreement have been initiated and an agreement between space agencies in both countries may be signed soon.</li></ul>The first ever meeting between the leaders of India and Luxembourg in 20 years has yielded fruitful results with three new bilateral agreements signed between the two countries. And, since Luxembourg is a founding member of the European Union (EU), discussion around the <keyword id="957079" type="PERSON" weightage="20" keywordseo="India-EU">India EU</keyword> trade and investment agreement were also initiated. Delhi’s has been ramping up its relations in Europe. Of the six virtual summits this month, four have been within the continent — first the EU, then Denmark and Italy and now Luxembourg. “The meeting focused constructive engagement on our bilateral relationship, especially given the strength of the Luxembourg economy and our needs. It focused on the financial sector, fin-tech, green financing and space applications,” said Ministry of External Affairs Joint Secretary Sandeep Chakravorty. The <a href="https://www.mea.gov.in/bilateral-documents.htm?dtl/33212/List_of_Agreements_acknowledged_on_the_occasion_of_IndiaLuxembourg_Virtual_Summit">three agreements</a> that have been signed are: <ul><li>Luxembourg Stock Exchange with State Bank of India (SBI)</li><li>Luxembourg Stock Exchange with the India International Stock Exchange (INX)</li><li>LuxInnovation and Invest India</li></ul>The agreements with the Luxembourg Stock Exchange provide for cooperation in the financial services industry. It will enable the maintenance of security markets in both counties with a focus on ESG (environmental, social and governance) and green finance in the local market. The third agreement between LuxInnovation and Invest India is to support and develop mutual business cooperation between Indian and Luxembourg companies, especially when it comes, promoting and facilitating inbound FDI. “Luxembourg Stock Exchange and funds based out of Luxembourg are the third largest investors in India. Foreign portfolio investments from Luxembourg total more than ₹3 lakh crore. It is the largest after the US and Mauritius,” said Chakravorty. Upcoming agreement in the space sector The Indian Space Research Organisation’s (ISRO) commercial arm, New Space India Limited (NSIL), launched four satellites for Luxembourg just last week. According to Chakravorty, the bilateral relationship between the two countries may be further strengthened with an agreement between ISRO and Luxembourg space organisation. “There is a lot of potential between the two countries when it comes to cooperation in space,” he said without divulging any further details. India’s invites Luxembourg to join the International Solar Alliance Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> and Luxembourg counterpart <keyword id="6629009" type="PERSON" weightage="20" keywordseo="Xavier-Bettel">Xavier Bettel</keyword> also discussed issues of terrorism and climate change. Bettel mentioned Luxembourg’s financing mechanisms available in Luxembourg and asked Modi to encourage Indian companies to raise capital for environmentally friendly green projects in the country. In fact, the first ‘masala’ bonds were raised in Luxembourg and many Indian companies are listed on the Luxembourg Stock Exchange. During his address, Modi also invited Luxembourg to join the International Solar Alliance — an initiative launched by India between 121 countries with a focus on the utilisation of solar power. It is the second largest grouping of states worldwide after the United Nations. According to Chakravorty, Beetle indicated that he may take Modi up on the offer. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/loan-moratorium-case-indias-power-sector-players-want-the-supreme-court-to-plug-the-loopholes-in-rbis-restructuring-scheme/articleshow/79301830.cms">Loan moratorium case: India’s power sector players want the Supreme Court to ‘plug’ the loopholes in RBI’s restructuring scheme</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-delaportes-new-plan-could-allow-company-to-catch-up-to-to-tcs-infosys-hcl-tech-and-others/articleshow/79299467.cms">Wipro CEO Delaporte’s new plan could give the Indian IT services giant the edge it needs to catch up to its peers, according to analysts</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a>

The first meeting between India and Luxembourg in 20 years results in three new bilateral agreements

You Searched For "bilateral relationsh" and got 1 results

The first meeting between India and Luxembourg in 20 years results in three new bilateral agreements

Prabhjote Gill

Popular Keywords

Buying Guides