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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