On Wednesday 2 March 2016, a Memorandum of Understanding (MoU) was signed between Luxembourg's Paul Wurth and Heavy Engineering Corporation Ltd of India which will see the companies collaborate in the manufacture of coke ovens.
The agreement was signed as part of the economic mission to India, led by Luxembourg Deputy Prime Minister and Minister of the Economy, Étienne Schneider, taking place from 2 to 4 March 2016. The signing ceremony was performed in the presence of Minister Schneider and Indian Minister of Heavy Industries and Public Enterprises, Anant Geete.
Later that afternoon, various political meetings were held, with the Luxembourg delegation received by Indian Finance Minister Arun Jaitley and Indian Minister of Industry, Narenda Singh Tomar. CEO of Paul Wurth, Georges Rassel, joined for the latter, during which the Indian government announced plans to strengthen its efforts in increasing steel production while focusing more on new technologies including energy efficiency.
"Present in India since 1993, Paul Wurth has played a significant role in the development of the local steel industry," commented the Deputy Prime Minister of Luxembourg. "Today, this partnership offers new opportunities for cooperation, especially in terms of research and development."
Wednesday evening was predominantly centered around an economic seminar organised by the Luxembourg Chamber of Commerce, in collaboration with the Embassy of Luxembourg in India and local partners. Held at the Oberoi hotel in New Delhi, it was attended by representatives of twenty Luxembourg companies as a means of establishing business contacts. Overall 150 participants were present for the several interventions and Q&A session which highlighted the Grand Duchy as a gateway to the European single market. In this context, a Memorandum of Understanding was signed between the Chamber of Commerces of both Luxembourg and India.
During his speech, Étienne Schneider stated that the objective of the mission is to identify areas of convergence between Indian and Luxembourg economies, whilst Nicolas Mackel, Director-General of Luxembourg for Finance, outlined the opportunities offered by the Luxembourg financial centre.
Photo by MECO (Meeting between Étienne Schneider, Deputy Prime Minister, Minister of the Economy; and Narendra Singh Tomar, Minister of Steel of India)
