PM Modi to hold virtual summit with his Luxembourg counterpart on Thursday

Prime Minister Narendra Modi and his counterpart from Luxembourg Xavier Bettel will hold a virtual summit on Thursday, covering the entire spectrum of bilateral relationship, the Ministry of External Affairs (MEA) said on Tuesday.

It will be the first stand-alone summit meeting between India and Luxembourg in the past two decades, the MEA said.

"The leaders will discuss the entire spectrum of bilateral relationship, including strengthening of India-Luxembourg cooperation in the post-Covid world. They will also exchange views on international and global issues of mutual interest," it said.

India and Luxembourg have continued to maintain high-level exchanges in the recent past. The two prime ministers have met previously on three occasions.

Luxembourg is one of the most important financial centres globally. Several Indian companies have raised capital by issuing Global Depositary Receipts (GDRs) at the Luxembourg Stock Exchange.

Several Luxembourg-based investment funds hold substantial banking and asset management market share in portfolio investments in India.