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Luxembourg shows interest in Indian Financial Services market
Kolkata, Dec 02: Luxembourg, one of the strongest economies in the European Union, today expressed interest in entering the Indian Financial Services market while inviting Indian IT companies to set up shops in that country.
Kolkata, Dec 02: Luxembourg, one of the strongest economies in the European Union, today expressed interest in entering the Indian Financial Services market while inviting
Indian IT companies to set up shops in that country.
Ambassador of Luxembourg Paul Steinmetz said the
Luxembourg companies were willing to form joint ventures with
Indian companies to enter the mutual funds and other financial
services business.
The captive insurance firms in Luxembourg were also interested in entering the Indian market.
"The concept of captive insurance is yet to hit the Indian market, but with gradual opening up of the sector, it has to come as it takes care of customer's money like none other," Steinmetz said.
The European country was also looking at expanding the trading activity by firms like Trade Arbed, a subsidiary of Arcelor, the world's largest steel company, to source steel products from India and sell it in markets like South Africa, China and Europe.
The country lacked skills in it sector and wanted Indian IT firms to set up shops there, he said.
It was also looking at expanding the cargo operations of Luxembourg Airlines in Indian cities, he added.
Steinmetz, who was speaking at an interactive session organised by the CII, earlier met Chief Minister Buddhadev Bhattacharjee here.
Bureau Report
The captive insurance firms in Luxembourg were also interested in entering the Indian market.
"The concept of captive insurance is yet to hit the Indian market, but with gradual opening up of the sector, it has to come as it takes care of customer's money like none other," Steinmetz said.
The European country was also looking at expanding the trading activity by firms like Trade Arbed, a subsidiary of Arcelor, the world's largest steel company, to source steel products from India and sell it in markets like South Africa, China and Europe.
The country lacked skills in it sector and wanted Indian IT firms to set up shops there, he said.
It was also looking at expanding the cargo operations of Luxembourg Airlines in Indian cities, he added.
Steinmetz, who was speaking at an interactive session organised by the CII, earlier met Chief Minister Buddhadev Bhattacharjee here.
Bureau Report