๐Why in news
✅Asserting that there was a huge potential to further ramp up economic engagement between India and Luxembourg.
✅the third largest source of Foreign Portfolio Investments (FPI), Prime Minister Narendra Modi pitched for strengthening ties in areas such as financial and digital technologies.
▪️About Luxembourg
✅Luxembourg is a small European country
✅ landlocked country
✅ Bordered Belgium, France and Germany.
✅Luxembourg is one of the most important financial centres globally.
✅Several Indian companies have raised capital by issuing Global Depositary Receipts at the Luxembourg Stock Exchange.
✅Luxembourg-based investment funds hold substantial banking and asset management market share in portfolio investments in India.
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