Forum Views - March 2023
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Global
FORUM VIEWS - MARCH 2023
ust over a year ago very few of us could have imagined
the turn the global geopolitical environment would have
Jtaken over the course of 2022. Emerging from the
pandemic many of us had high hopes for a return to
geopolitical and macroeconomic normality. Unfortunately, this
was not to hold true - central banks efforts to keep economies
afloat during lockdowns naturally had consequences which
have now come to roost, most notably inflation. Additionally,
Russia’s invasion of Ukraine cast lives, geopolitical order, and
global energy and stock markets into disarray.
As we look forward, reigniting economic growth across the
world is critical. In this sense, we cannot allow the seeds of the
current crisis to grow into roots that run contrary to the trend of
globalisation that has uplifted so many and brought many
economies forward. India has already contributed significantly
to the global economy, bringing much needed growth to the
South-East Asian continent and the world. Furthermore, much
of the leading talent and innovation stems from the country.
Today we face two challenges, namely the fragmentation of a
geopolitical system from which globalisation has originated
and the transformation of our economies and society towards
climate neutrality. Both are having a significant effect on
financial services.
Despite the pressures that have emerged from both the
pandemic and geopolitical tensions, the global system of trade
and investment flows have, thus far, remained resilient. The
world’s largest markets have continued to collaborate to
ensure economic resilience and growth in many areas. This
news is heartening given the important role that global finance
plays - it is not only necessary, but also beneficial for all
countries. Much like the businesses they often finance,
financial services must be allowed to continue operating
across jurisdictions to live up to its full potential.
Insights
FINANCE MUST CONTINUE
TO GO GLOBAL TO BENEFIT ALL
Nicolas Mackel
Chief Executive Officer
Luxembourg for Finance
Globalised finance requires financial centres, such as Mumbai,
London, Dubai, New York, and Luxembourg. They play a crucial
role in bringing together various elements of financial services
to assist investors in channelling capital into projects and
companies, as well as helping firms in raising funds via the
capital markets. In the case of India and Luxembourg,
collaboration started many years ago, however there is
undoubtedly still room to grow as India is set to play a much
larger role in the global economy in the coming years.
As an investment structuring, and the world’s leading cross-
border investment funds hub, the Grand Duchy’s expertise
helps investors from across the world navigate cross-border
complexities via the structuring of international investments.
With funds distributed in 83 countries across the world it is an
ideal onshore EU hub to assist Indian investors in channelling
their money into projects and companies worldwide, as well
as directing global investors’ money into India. Additionally,
Luxembourg has, for many years, set a high standard for
Globalised finance requires financial
centres, such as Mumbai, London,
Dubai, New York, and Luxembourg.
They play a crucial role in bringing
together various elements of financial
services to assist investors in
channelling capital into projects and
companies, as well as helping firms in
raising funds via the capital markets. In
the case of India and Luxembourg,
collaboration started many years ago,
however there is undoubtedly still
room to grow as India is set to play a
much larger role in the global economy
in the coming years.
(Luxembourg)
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