Indian Chamber of Commerce inks MoU with its Luxembourg counterpart
As part of the agreement, the two trade bodies will exchange information on the legislation and regulatory procedures required to carry out businesses with each other
The Indian Chamber of Commerce (ICC) on Thursday signed an MoU with the Chamber of Commerce of Grand Duchy of Luxembourg to jointly promote and develop trade and economic relations between the two trade partners. This agreement is envisaged to facilitate further co-operation between the members of Luxembourg Chamber and India for discussing concerns and opportunities of mutual interest. As part of the agreement, the two trade bodies will exchange information on the legislation and regulatory procedures required to carry out businesses with each other. On Wednesday, ICC’s Member-Executive Committee Rajat Dalmia and Luxembourg Chamber of Commerce Vice President Robert Dennewald inked the deal in New Delhi. The latest initiative is also significant from the point of view of India’s Make in Initiative, which is aimed at attracting foreign investors to bolster its manufacturing sector as well as other programmes such as Digital India as well as Smart India. The Luxembourg Chambers, in turn, also looks to attract more Indian investors in its country to support its ‘Startups’ mission. India’s impressive market outlook economy, along with its rapidly-growing sectors such as logistics and eco-technologies, provides Luxembourg’s companies a multifaceted opportunity to accelerate their businesses activities in the Indian market. “To foster and strengthen the bilateral relationships between Luxembourg and India, this mission will undoubtedly be an excellent occasion to learn on the ground about India in general and recent Indian policies like Digital India, Make in India or the Smart City initiative in particular,” the Luxembourg Chamber of Commerce said in a statement. India has also been benefitted by its economic liberalisation measures including industrial deregulation and less control on foreign trade and investment, thereby giving a positive perception of the country among the foreign businesses.
March 04, 2016 | 06:00pm IST
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to success.