India and Luxembourg can increase cooperation in the area of financial technology, steel, space, solar energy and the digital domain as there exists a lot of potential for growth, Prime Minister Narendra Modi said at the India-Luxembourg virtual summit on Thursday. The meeting was also attended by Luxembourg’s Prime Minister Xavier Bettel.
“At a time when the world is trying to deal with the economic and health challenges of the Covid-19 pandemic, the partnership between India and Luxembourg can not only help in the recovery of the two countries but also of the two regions,” said Modi.
The two leaders welcomed the signing of a cooperation agreement between Invest India and Luxinnovation to support and develop mutual business cooperation between Indian and Luxembourg companies, as per a joint statement issued after the meeting. The summit was especially significant as it was the first one in two decades between the two countries.
Bettel highlighted that Luxembourg, as a leading international financial centre in Europe, can act as an important bridge to help connect India’s financial services industry with international markets and reach European and global investors, the statement said.