India-Luxembourg Summit held

India-Luxembourg Summit held

Part of: GS Prelims and GS-II – International Relations

In news

• Recently the first-ever India-Luxembourg Virtual Summit was held.

Key takeaways

• Luxembourg is a founding member of the EU. 
• In this context, the two countries exchanged views on further strengthening India-EU relations including forward movement on India-EU trade agreements and investment agreements.
• The Luxembourg Prime Minister conveyed the intention of Luxembourg to join the International Solar Alliance. 
• Indian PM also invited Luxembourg to join the Coalition for Disaster Resilient Infrastructure.
• The leaders looked forward to the 17th Joint Economic Commission between India and the Belgium-Luxembourg Economic Union to review the economic and trade relations.
• Three agreements were signed coinciding with the Summit. The agreements were: (1) MoU between India International Exchange (India INX) and Luxembourg Stock Exchange; (2) MoU between State Bank of India and Luxembourg Stock Exchange; (3) MoU between Invest India and Luxinnovation