Forum Views - March 2023

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FORUM VIEWS - MARCH 2023

regulatory transparency, financial and legal stability, as well as

openness to foreign institutions. It is therefore uniquely

positioned to act as a gateway to both the EU and abroad for

Indian investors.

Within the capital markets space, Luxembourg is well

positioned to help Indian firms active globally raise funds to

finance their activities internationally. The country brings

together various elements to create an ecosystem ideal for

these activities, from the necessary talent and institutions to

responsive regulators, tax authorities, and a sophisticated

legal framework.

These qualities also make the Grand Duchy an ideal location for

Indian financial services firms looking to establish a base

within the EU to serve the single market.

The global shift towards sustainability will only compound

Luxembourg’s appeal for international firms. As a leading

sustainable finance centre, the country is well set up to help

companies raise sustainable capital, via the Luxembourg

Green Exchange for example, and to help investors support

sustainable growth. Indian firms should leverage on the

already existing, and growing, expertise in Luxembourg to

propel their sustainability agenda forward.

Already, structures in Luxembourg help provide investments

not only into tech-savvy and innovative companies in India,

but also help to finance much needed ESG projects.

Increasingly, these projects go beyond the Environmental

factor and are also focusing on the Social aspect.

A strong financial system supports the entire economic value

chain, integrating players from across the world. This opens

up expertise that is often not available in local markets, and

facilitates foreign institutions’ access to developing markets,

helping to address significant capital shortages. With the

awareness and demand for sustainable investments and

With the awareness and demand

for sustainable investments and

financing growing, it will take the

engagement and interaction

between players located in all

four corners of the world to

ensure a green and global

financial system - one which

benefits everyone, from Mumbai

to Luxembourg and beyond.

financing growing, it will take the engagement and interaction

between players located in all four corners of the world to

ensure a green and global financial system - one which

benefits everyone, from Mumbai to Luxembourg and beyond.

Nicolas Mackel is CEO of Luxembourg for Finance, the Agency for the

Development of the Financial Centre, since July 2013.

He is a career diplomat. He has graduated with a law degree from the University

of Aix-en-Provence, and holds two post-graduate diplomas in European law from

the Sorbonne University, respectively the College of Europe in Bruges where he

then also served as a teaching assistant in the Law Department. He worked as a

legal clerk at the European Court of Justice before joining the Ministry of Foreign

Affairs in 1999. His assignments focused on the successive EU Treaty

negotiations (Amsterdam, Nice, Constitution, Lisbon).

He was consecutively posted at Luxembourg’s Permanent Representation to the

EU (2002-07), as Deputy Chief of Mission at Luxembourg’s Embassy in

Washington DC (2007-11) and as Consul General in Shanghai (2011-13) where

he was in charge of promoting Luxembourg’s economic interests throughout

China as the Executive Director of the Luxembourg Trade and Investment Office.

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