As you scan the map of Europe,you will come across a tiny dotnestled between Belgium,France and Germany. Hardlynoticeable, that tiny dot is Lux-

embourg - one of the most prosperous Eu-ropean countries.

Luxembourg's economic prosperityhinges on its geography. Positioned at anenviable location where it has several ofthe most industrialized and prosperous na-tions of Europe as its neighbors, Luxem-bourg has seen a significant flow of invest-ment from these countries. InformsJean-Claude Knebeler, Director of For-eign Trade, "Located between the twolargest markets of Europe - France andGermany, Luxembourg makes for an idealdestination to conduct business. We havean efficient air, road and rail network thatconnects to all the leading ports, cargohubs and airports in Europe. We are indeeda small nation but we are so strategicallyplaced that within a one -hour flight youcan cover all the markets which constitute80% of Europe's GDP- in essence are anyIndian company's target in the EU."

Size does matter. With a populationof under half a million inhabitants ofwhich nearly 42% are foreigners, Lux-embourg holds the distinction of the sec-ond highest GDP per capita in the world- a statistic flawed due to the presence ofa large commuter workforce. Says

Knebeler, elaborating on the concept ofcommuter population. Knebeler, "Dailythousands of workers from neighboringGermany, France and Belgium come towork in Luxembourg and leave in theevening for their respective nations. Cur-rently, it is estimated that nearly160,000 cross border workers commutebetween Luxembourg and its neigh-bors". Due to this, Luxembourg's jobmarket is exceptional in Europe. The sit-uation began to change in the 90s whenthe international commuters reallystarted to come in large numbers. Thiseconomic immigration was welcomeconsidering the lack of local workforce.A high wage level, a low unemploymentrate, moderate tax rates and multicultur-alism: all these factors lie behind thedecision of the international commutersto come and work on the other side ofthe border, points out Knebeler.

Notwithstanding its small size Luxem-bourg has played a key role in the forma-tion of numerous organizations that havechanged the face of Europe post WorldWar II. Luxembourg is a founding mem-ber of the European Union, NATO, OECD,the United Nations, Benelux, and theWestern European Union, reflecting thepolitical consensus in favour of economic,political, and military integration. Thecity of Luxembourg, the capital andlargest city, is the seat of several institu-

tions and agencies of the EuropeanUnion. Post World War II era has wit-nessed the nation making a rapidprogress in the economic sphere. Theeconomy is largely dependent on thebanking, steel, and industrial sectors.

Access to decision makersUnderlining the importance of Luxem-bourg as a hub for business, Knebelermakes a vital point. "While every coun-try in Europe can offer more or less thesame red carpet to the business and in-vestor community in terms of incentives,amenities et al, one thing that sets Lux-embourg apart is the accessibility to de-cision makers. Whether you are a smallor a mid sized or a large corporation, youwon't have to wait endlessly to get an au-dience with the relevant Minister to dis-cuss your case, which is the case withother nations".

Perhaps it is because of this speed andefficiency that runs in its system which hasenabled it to stave off the crisis. At a timewhen the reputation of countries all overthe world had taken a beating due to theeconomic slowdown, Luxembourg wasone of the few nations less affected. SaysKnebeler, "Our ability to stay afloat de-spite the crisis can be partly attributed toour small size, as the government couldreact swiftly to the crisis, using ressourcesstockpiled during better times."

Itake great pleasure in ad-dressing you in this specialissue dedicated to Luxem-

bourg.Over the last years, the Lux-

embourg government hastaken several steps to furtherbroaden its relationship with In-dia, especially with the aim topromote trade and investmentbetween our two countries.Luxembourg has become betterknown in India especially sinceLakshmi Mittal establishedheadquarters of ArcelorMittal,the world's leading steel com-pany, in our capital. If he did so,it is because Luxembourg has alot to offer, especially in terms ofan attractive business and legalframework. I am glad to see thatour bilateral trade has tripledbetween 2002 to 2007, reach-ing a peak of 52 million euros.Yet there is most certainly roomfor improvement. The reason iscertainly not a lack of opportu-nity. Maybe we do not yet knoweach other well enough.

India is of major interest toour companies who are eagerto find new business partners.Several Luxembourg compa-nies have already established afoothold in India, operating insuch diverse fields as steel in-dustry, engineering, appli-

ances, air cargo, informationtechnology and consulting.

On the other hand, I am verypleased that an ever growingnumber of Indian companiesdiscover Luxembourg as anideal location to establish a per-manent base. Located in theheart of Europe, Luxembourg isa gateway to the European mar-ket with more than 500 millionconsumers. Due to its politicaland social stability, skilled andmultilingual workforce, state-of-the-art infrastructures, excel-lent connectivity to markets, fa-vorable legal environment andattractive tax climate, Luxem-bourg offers an exceptionalrange of assets and opportuni-ties for doing business.

Let me highlight a few exam-ples of the complementarycharacter of our economies:

India's automotive industryis thriving. Luxembourg on theother hand has a very active au-tomotive components industry.Most cars produced in Europetoday have parts "Made in Lux-embourg" inside them. As Indiastarts exporting cars to Europe,there is ample space for highlyinteresting synergies betweenthe respective industries.

Many Indian companiesneed a solid logistical base todistribute their products in Eu-rope. To those of you who havea European customer base:have you thought about the nu-merous geographical, legal andinfrastructural advantageswhich would make Luxem-bourg your ideal hub ?

The IT sector has crucial po-tential. Software applicationsplay a key role in the banking,financial services and insuranceindustry which is one of thecountry's biggest strength. In-dian firms are experts in thisfield and will find ample oppor-

tunities in Luxembourg. The financial sector in gen-

eral is one of the most promis-ing fields. Being listed on theLuxembourg stock exchangethrough global depository re-ceipts has become the preferredsolution for Indian companieswho want to have access to thehuge euro-zone capital mar-kets. On the other hand, Luxem-bourg is home to the secondlargest investment fund indus-try in the world. It holds a verysignificant market share in port-folio investments in India. ForIndian banks, a presence in Lux-embourg can give easy accessto the whole European singlemarket, allows to tap the mu-tual funds expertise and to gainfrom the proximity to the head-quarters of the European In-vestment Bank, one of thebiggest infrastructure lendersin the world.

I am convinced that newhorizons in our economic rela-tions will be opened soon : Abilateral agreement to avoiddouble taxation has beenadopted and will enter intoforce very shortly. The agree-ment will boost the bilateraltrade and stimulate the flow ofcapital, technology, and per-sonnel from India to Luxem-bourg and vice-versa.

I would like to conclude byencouraging you to visit Luxem-bourg and see for yourself thenumerous advantages ourcountry and its businesseshave to offer. Whether you arean entrepreneur looking forbusiness opportunities or atraveler interested in Luxem-bourg's cultural highlights, Ican assure you that our Em-bassy and our Trade Office arealways at your full disposal andcan be conveniently reached atnneewwddeellhhii..aammbb@@mmaaee..eettaatt..lluu

MESSAGE

Area2,586 sq km

Population500,000

(40 % are foreigners)

LanguagesLuxembourgish, German,French, English

CurrencyEuro

Political SystemConstitutional MonarchyParliamentary Democracy

Head of StateHRH Grand Duke Henri

GDP (PPP)2008 estimate✪ Total $40.025 billion

(97th)

✪ Per capita $82,306 (2nd)

GDP (nominal)2008 estimate✪ Total $54.973 billion

(65th)

✪ Per capita $113,044 (1st)

Main industriesBanking and financial serv-ices, iron and steel, infor-mation technology,telecommunications, cargotransportation, food pro-cessing, chemicals, metalproducts, engineering,tires, glass, aluminum,tourism

Main export partnersGermany 21%, France16.3%, Belgium 9.2%,United Kingdom 8.3%,Italy 7.5%, Spain 6.6%,Netherlands 4.3%

Main import partnersBelgium 28.2%, Germany21.8%, the People's Repub-lic of China 12.8%, France9.6%, Netherlands 5.1%

AT A GLANCE

Broadening ties with India

EXPRESS INTERNATIONAL JUNE 23, 2009

IBCL tofurther ties

Relations between India and Luxem-bourg have stepped into a new direc-tion. The recent launch of the In-

dian Business Chamber of Luxembourg istestimony to the fact that the two countriesare taking bilateral relations very seriously.This includes a much closer business rela-tion and opening up of opportunities wherecorporates can look at setting up bases ineach other's country.

In the ongoing economic scenariowhere recession has played spoilsport andthereby halted many a countries eco-nomic prosperity, Luxembourg and Indiaare two nations which have by and largeremained unaffected by this turmoil. Thereason lies in the size of the two countries- India due to its large size and populationhas a high domestic consumption whileLuxembourg though small but with a fan-tastic location and a huge commuter pop-ulation has been witnessing progress in allspheres of industry.

"The two countries can make the bestof the situation by forging closer ties andlaunch of IBCL is the first step in this di-rection", stated Sudhir Kumar Kohli,President, Indian Business Chamber ofLuxembourg.

For India, Luxembourg is one destina-tion which will suit the needs of Indianbusinessmen as it is regarded a hub of lo-gistics, finance and ICT.

Both India & Luxembourg believe inglobalization, free trade, flow of goods andservices, flexibility and investment in skillsof people. They are open to business andare welcoming companies and investmentsin different sectors. India's economy hasbeen growing and forms a large part of theglobal market place. One can feel the im-portance of India more in Luxembourgnow because of the successful presence ofArcelorMittal, added Kohli.For further information log on to www.ibcl.lu

IBCL’s launch has paved the wayfor furthering relationshipbetween the two countries.

THE FINANCIAL EXPRESS (ALL EDITIONS) AN REPORT

H.E. Marc Courte,Ambassador of

Luxembourg to India

Broadening ties with India

Small size, outstanding effects.

Fall in love. In the heart of Europe the Grand Duchy of Luxembourg gleams with its multitude of facets. Innovation-driven companies, state-of-the-art technologies and cutting-edge R&D make Luxembourg a diamond of timeless beauty. An irresistible, trustworthy and flawless partner for your international business.

Luxembourg. Small country, safe values.

www.luxembourgforbusiness.lu

Pursuing a pro-active economic development policy, Luxembourg is taking concretesteps to expand beyond European borders. Hitherto unknown in India, it isgradually increasing its presence and aims to attract sizeable Indian investment

The Heart of Europe

uietly and steadily, Luxembourg has overthe years emerged as a hub for finance, lo-gistics, ICT and automotive components.Today, the country has a large number ofinternational banks and a fairly strong

and prosperous steel sector. A quick look at some ofthe factors which positions it as the prime businesslocation in Europe:

Strategic location Located in the heart of Europe, Luxembourg is theideal gateway to the European market with over 450million consumers. The nation has one of the bestlocations in Europe. It has the continents' three topmost industrialised countries as its neighbours,which include Germany, France and Belgium. Thecountry is well-connected and has a highly ad-vanced airport and state-of-the-art highways.

Luxembourg is a magnet for talent. Over 40% ofthe resident population are foreigners and over 45%of the workforce commutes into the country eachday. These foreigners are more likely to have a highereducation qualifications than the European average.The on-going project to grow the country's post-grad-uate focused university and public research centresis boosting the skills of locals and attracting knowl-edge-workers from around the world.

Due to the small domestic market businesseshave to export to thrive, so road, rail, air and waterconnections are state of the art. From the neighbour-ing regions with nearly 11 million consumers, thefocus then moves to the rest of the eurozone, the EUand then the world. For example, Luxembourg hoststhe corporate headquarters of a wide variety of busi-nesses: ArcelorMittal, the globe's biggest steelmaker; RTL Group, a major European broadcaster;SES Global, the world's leading satellite firm; Car-golux, the 10th largest cargo airline (5th largest Eu-ropean cargo airport) and the number one internettelephony firm Skype. The country is a major pro-duction, research and development hub for otherworld class businesses too including Goodyear, Del-phi Automotive, chemicals firm Dupont and glassmakers Guardian. All these businesses are part ofnational and regional clusters.

Expatriate families can also find schooling for theirchildren in their mother tongues with a range of first-class international schools, included two dedicatedto English.

An attractive business environmentLuxembourg's economic policies are based on thestrengths of private initiative and innovative spirit.A free market approach gives business broad free-dom of action. Rigid bureaucracy and cumbersomered tape are unknown. The Luxembourg Govern-ment actively encourages investment and innova-tion through a legal and regulatory framework de-signed to support business creation and economicdevelopment. Luxembourg's fiscal climate is amongthe most favorable in Europe with the lowest VATrate, moderate corporate income tax and an attrac-tive personal income tax.

Social and political stability Social conflicts can usually be avoided thanks toregular consultation between the social partnersand the Government, known as the "LuxembourgModel". This is just one of the reasons why therehas hardly been a strike over the last century! Coal-lition Governments have traditionally con-tributed to political stability and continuity of eco-nomic policies.

A good place for livingAlthough rooted in northern European culture, Lux-embourg's diverse, multinational population bringsthe sights, sounds and tastes from every corner ofevery continent. Set on a dramatic horseshoe shapedvalley, Luxembourg City has a uniquely attractivefeel steeped in history, setting it apart from othermedium-sized towns. The so called "Gibraltar ofthe North" is a Unesco World Heritage Site. Out inthe countryside, nature lovers will appreciate the op-portunities offered by the Ardennes forests and the

country's rivers. Business travellers like the variety,quantity and quality of hotels and the country boastsnumerous facilities for business meetings, seminarsand conferences.

A vibrant and varied cultural life provides enter-tainment and enlightenment for every taste. Musiclovers are well served: from classical music per-formed at the world class Philharmonie to interna-tional super groups and emerging stars of popularmusic at the Rockhal, to name but the two biggestvenues. Award-winning museums showcase artis-tic and historical treasures, whilst a variety of the-atres stage plays in a variety of languages. Added tothis, numerous cultural and entertainment eventsare staged throughout the year including open airconcerts, parties and seasonal markets andfairs.Whilst there are the more Michelin staredrestaurants per capital than anywhere else, there isalso a wide choice of more basic good-cooking. Con-noisseurs know of Luxembourg's specialisation inhigh quality, restricted production Moselle wines.

Added to this, the country's high living standardsand low crime rates mean it frequently ranks towardsto top of global quality of life studies. So whetheryou are coming for a weekend, a week, a year or alifetime you will find yourself in Luxembourg.

Logistics With its excellent connectivity to markets Luxem-bourg has today emerged as an ideal logistics hubfor added value logistics activities. Luxembourg air-port is the 5th largest air cargo hub in Europe andhome base of Cargolux, Europe's leading air freightcarrier. With its modern air cargo centre, speedyground handling and efficient processes, Luxem-bourg is the logistical airfreight hub par excellence.Moreover, efficient railway connections to the portsof the North Sea make Luxembourg a hinterland portof Antwerp, Zeebrugge, Amsterdam, Rotterdamand Hamburg. In addition, train links to SouthernEurope are facilitated by an public - private part-nership which offers a road/railway piggy-backservice between Luxembourg and the French/Span-ish border.

Importing goods into the EU generally triggersimport declaration, prefinancing of value addedtax (VAT) and other duties in the European coun-try of importation. Thanks to an easy access to gov-ernment and custom authorities, these procedurescan be made straightforwardly in Luxembourg with-out any red-tape. While, most European countriesask for immediate payment of the import VAT, in Lux-embourg such payment is shifted to the VAT returnautomatically and unconditionally. Therefore nocost is linked to the prefinancing of import VAT inLuxembourg.

In combination with these factors, an importantnumber of qualified players (i.e. handling agents,forwarding agents and logistics technologyproviders) provide quality service allowing just-in-

time access to all European countries. As a result,numerous international companies are shippingtheir products through Luxembourg to tap the Eu-ropean market.

The financial sectorLuxembourg is the No 8 financial centre worldwideand No 2 centre in the world for investment funds.The Luxembourg Financial sector has more than 150credit institutions from 26 different countries. Num-ber two in investment funds, Luxembourg today hasa large and efficient banking network. Though thecountry's domestic market is relatively small, thebanking sector is predominantly international. Atthe end of March 2009, there were 152 banks in Lux-embourg, with over 27,000 employees. Germany ac-counts for the largest-single grouping of banks, withScandinavian, Japanese, and major US banks alsoheavily represented. Total assets exceeded Euro 929billion at the end of 2008. The European InvestmentBank - the financial institution of the EuropeanUnion - is also located there.

Finance provides directly around a quarter ofGDP and so is one of the key drivers of the Lux-embourg economy. There is extensive expertisein a range of activities, with the two key pillarsbeing investment funds and private banking inwhich Luxembourg is respectively the 2nd and 6thin the world. It has achieved this by adapting tonew regulations and understanding internationalmarkets, under the supervision of a sensitive butstrict regulator.

Promoters have found Luxembourg the idealplace to base the administration of their funds be-fore repackaging them for different markets. This for-mula now dominates Europe and significant in-roads are also being made in Asia and SouthAmerica. Private banking allows wealthy clientsfrom around the world to structure their invest-ments efficiently.

Luxembourg is also a popular centre for corpo-rate finance, with many multinational groups estab-lishing their head offices in the country. Cross bor-der life insurance is also a thriving sector and thereare also international pension options as well.

There are over 150 banks from 23 countries withbalance sheets approaching one trillion euros.Nearly 3,500 funds are domiciled in the country, withnet assets in excess of 1.5 trillion euros. Over 50 lifeinsurance firms operated from Luxembourg alongwith nearly 40 non-life companies, writing businessin excess of 12 billion euros. One must add to this250 reinsurance companies. Luxembourg's stockexchange specialises in the listing of bonds, withmore than 3,500 issuers from over 100 countriespresent. Luxembourg is also the home of the lead-ing international clearing and settlement houseClearstream.

ICT as a natural consequence Financial services expertise has also helped other sec-tors, and not just in terms of the need to develop skills.For example, the requirement for banks to keep theirdata safe has seen the growth of many sophisticateddata centres and business continuity facilities.

According to Tom Kettels, senior advisor, Min-istry of State, media & telecommunications depart-ment, Luxembourg has successfully embraced theIT revolution while strengthening its position in themedia sector linked to the presence of two Europeangiants in the field, namely RTL Group in media andSES in satellite transmissions for multiple applica-tions. Other multimedia and telecommunicationscompanies have followed suit, leading to the growthof a closely-knit ICT network.

"With its first-class infrastructures and telecom-munication networks, as well as a culture of trustand security reflected by an appropriate legalframework, Luxembourg is the ideal place to serveas a global hub for the distribution of digital au-diovisual content, such as music downloads, video-on-demand, pay TV and digital radio and televi-sion transmissions," informs Kettels. As a result,Luxembourg has become home to the 'stars' of theICT sector:, Amazon, iTunes, eBay, PayPal, Voda-fone, REAL, Rakuten and Skype are householdnames who elected Luxembourg as platform for theEuropean market.

Communication is in Luxembourg´s DNAHaving a listening, responsive government hasplayed an important role too. For example, seeingthat private sector supply may not keep pace withdemand, the state is backing the Luxconnect fibreoptics project which will guarantee that local play-ers have all the bandwidth they need to serve theirclients. So equipped with fully redundant backboneconnections to Paris, Frankfurt, Brussels, London...,a first rate supply of data centres and a range of busi-ness incubators, the infrastructure is in place to al-low businesses to thrive. The state has also playeda major role in the development of the electronic cer-tificates company LuxTrust, which ensures secureon-line communication. They also were behind theLU-CIX (Luxembourg Commercial Internet ex-change Point) project which helps internet serviceproviders exchange traffic between their networks.

Are you looking at reaching a prosperous 500 million consumermarket? Look no further as your search ends at Luxembourg. Thanks to its strategic location, 80% of the EuropeanUnion's GDP can be serviced in a radius of 700 km

2

Your prime business locationYour prime business location The Financial Powerhouse

The Luxembourg financial centre is one of thelargest in the world and a key contributor to theeconomy. To cite a few examples, Luxembourg

is the second largest investment fund centre in theworld, behind the United States, with over 1,500 bil-lion euros under management at 31 March 2009; itis also the leading captive reinsurance centre in theEuropean Union and the largest private banking cen-tre in the Eurozone.

The success of the financial centre is grounded inthe social and political stability of the Grand Duchyand on a modern legal and regulatory framework thatis continuously updated, inspired by regular consul-tation between the government, the legislator and theprivate sector. The Luxembourg financial centre is char-acterised by a strong culture of investor protection andrigorous anti money-laundering policies.

Luxembourg was the first EU Member State to im-plement the UCITS Directive, which created a singleEuropean market for retail investment funds, in 1988.The Grand Duchy rapidly developed a niche marketin this area, thanks to its multilingual, multiculturalworkforce. As a small state, Luxembourg has alwaysturned to the export market and this experience en-abled the financial centre to win - and hold on to - a75% market share in the cross-border distribution ofinvestment funds. The UCITS product has since be-

come a "gold standard" in the global investment fundmarket and Luxembourg UCITS are accepted for dis-tribution in markets as far afield as Asia and LatinAmerica, and are widely distributed in India.

In the institutional sphere, specific regulatoryframeworks have been created for alternative invest-ment funds, venture capital companies, internationalpension funds, the Specialised Investment Fund forinstitutional and informed investors, covered bondsand securitisation vehicles; and there is a dedicatedvehicle for managing family wealth, the société de ges-tion de patrimoine familial or SPF.

This legal framework, combined with Luxem-bourg's openness to the outside world and expertisein handling the needs of an international clientele, hasattracted banks, insurance companies, investmentfund promoters and service providers from aroundthe world. An illustration of this can be found in theinvestment fund area, where the largest market sharesby country of origin are held by the United States,Switzerland and Germany. The first two are not EUMember States but have chosen Luxembourg as abridge to the European Union and a hub for globaldistribution. Germany, on the other hand, is an ex-ample of an EU Member State that has chosen Lux-embourg because of its particular expertise in cross-border distribution.

Characterised by a strong investor protection culture and rigorous antimoney-laundering policies, Luxembourg financial centre is

indeed the best bet for corporates around the world

BIZ BRIEF

Q

BOURSE DELUXEMBOURG

Founded in 1928 as a for-profitorganisation, the LuxembourgStock Exchange is Luxembourg'smajor listing centre of interna-tional bonds, equities and invest-ment funds. It is an independentExchange and was initially themarket for Luxembourg shares.Today the Exchange has a net-work of domestic and interna-tional banks and close links tonetworks of main intermediaries.

In 2009, the LuxembourgStock exchange migrated its secu-rities to the NYSE Euronext UTPplatform. The Exchange also hasa cooperation agreement withBelgrade Stock Exchange.

The Exchange today has over3,500 issuers from 105 differentcountries, 55 sovereign issuersand 13 supranational institu-tions. About 90 percent of issuesare in types of EMTN and listingis in over 30 different currencies.

The Luxembourg Stock Ex-change has been active in listingdepositary receipts since the1960s. First listing of GDR wasdone in December 1990 for Sam-sung Corp and by the end of De-cember 2008 it had 223 quota-tion lines for depositary receipts,the majority being GDRs fromcompanies in 20 countriesaround the world. Market capi-talisation from all countries wasaround EUR 23 billion.

India continues to be an impor-tant centre for the LuxembourgStock Exchange. Says AntoineWagner, "The majority of GDRslisted in Luxembourg are from In-dia, which include 129 companieswith market capitalisation ofaround EUR 7 billion." The top In-dian issuers include Reliance In-dustries, L & T, ITC, RelianceCommunications, Hindalco In-dustries, Grasim Industries andTeledata Informatics.

CARGOLUX

Established 40 years ago, Car-golux today is one of the world'sleading airlines operating sched-uled and charter services on anetwork covering all continents.The company measured in tonne-kilometers flown, today ranks in9th position worldwide. In Eu-rope, Cargolux is the largest all-cargo airline.

The airline's network linksmany of the world's most impor-tant production centers of indus-trial, automotive and consumergoods through its hub in Luxem-bourg. The company has paidspecial attention to its R&D net-work and is constantly adaptingits network to changing marketdemand and trade flows.

"At Cargolux, we continue toadapt our structures to grow inline with the global air freightmarket", says CargoluxPresident and CEO,Ulrich Ogier-

mann. "We continue to accom-pany our customers on potentialgrowth markets and reinforce ourposition at the crossroads of themajor trade flows worldwide".

The airline also specialises inthe transportation of outsize ship-ments, perishable goods and liveanimals.

Today, the airline has the bestflee in the world. It uses a fleet of16 B747-400 freighter aircraftand 20 trucking contractors tomove valuable and time-sensi-tive commodities on its world-wide network, covering over 90destinations.

In 2005, Boeing announcedthe launch of a new aircraft, theBoeing B747-8, which featuresreduced fuel burn as well as lowernoise and atmospheric emissions.

Cargolux is one of the twolaunch customers for this nextgeneration aircraft, with a firmorder for 13 aircraft and purchaserights for an additional 10 unitsof the new B747-8F freighter. Thefirst 747-8F will join the Cargoluxfleet in the second half of 2010.

In a renewed focus on the In-dia market, Cargolux resumed itsIndia operations from Chennai inMay 2009. It may be recalledCargolux had a regular cargoflight service to India but tem-porarily suspended it 2 years ago.

HUSKY

Husky Injection Molding Sys-tems is today one of the most rec-ognized brands in Luxembourg.The company, which has morethan 40 service and sales offices,supporting customers in over 100countries is a leading supplier ofinjection molding equipment andservices to the plastic industry.

The company has today cometo be known for its innovation,sate-of-the-art manufacturing fa-cilities and impressive productline up. Husky designs, manufac-tures and integrates the indus-try's most comprehensive rangeof injection molding equipment,including machines, molds, hotrunner and robots. The com-pany's main manufacturing facil-ities are located in Canada, US,Luxembourg and China.

Husky has been growingstronger with each passing yearand in 2007 the sales figuresstood at a staggering $1077 mil-lion. The turnover in 2008 stoodat $1.2 billion dollars. Recentlyas a part of its global expansionplan, the company announced aseries of investments that wouldhelp to retain its leading positionin hot runners. These include ex-panding its technical centre inShanghai, China, increasing itshot runner manufacturing capac-ity at its technical centre in SaoPaolo Brazil.

India too stands high on thecompany's expansion

scheme. SaysVolker Neuber,

VP Service andSales, "Whilewe already hada presence inIndia throughour sales office

in Mumbai, we recently an-nounced that we would startbuilding a manufacturing plant inChennai to manufacture hot run-ners both for local needs and ex-port markets. We aim to developthe Chennai facility as a hub forour Asia Pacific business".

ENGINEEREDPACKAGING CENTRE

Established in 1991, Engi-neered Packaging Centre (EPC)has today emerged as the leaderin the packaging industry. Under-lining the philosophy of the com-pany Claudy Antoine, ManagingDirector says, "The Corporation,which believes in the philosophyof full customer satisfaction, hasalways paid special attention toinnovation so that it can provideits customers with top qualitypackaging services".

EPC's management team iscomposed of experienced manu-facturing and packaging profes-sionals. The company offers to itscustomers a full service approach"just in time" in a variety of fieldssuch as quality assurance, newpackaging concept development,repackaging, warehousing, anddelivery to final destination.

EPC is a company specialisedin the B2B added value chains.The company's profile includesinspection, packing, storing andshipping. The company has state-of-the-art storage facilities. Thecompany is providing packagingservices in the fields of pharma-ceuticals, electronics, chemical,food, cosmetics and non fooditems and has well known namesas its customers such as Sun Mi-crosystems, L'Oreal, Editus toname a few.

The company's charter in-cludes a policy based on Quality,Safety and Environment en-meshed in all aspects of healthand consumer safety.

LCF ROTHSCHILD

Known as the hub of finance,Luxembourg today has the high-est number of banks in the world.Amongst these is Banque PrivéeEdmond de Rothschild Europe(BPERE), which is one of the mostprestigious banks of Luxembourg.

BPERE is part of the Genevabased LCF Rothschild Groupwith has operations in 17 coun-tries with more than 30 officesworldwide and staff strength of2500, The LCF RothschildGroup has been wining acco-lades for the quality of their pri-vate banking services ever sinceits establishment in 1953. TheGroup manages over 100 billionEuro in assets for private and in-stitutional clients and providesservices in advisory and wealthmanagement services.

It is on a major expansionspree not only in Europe but alsoworldwide in two major sectors:Private banking and assets man-agement. With India high on itsagenda, it has partnered withAxis Bank to provide wealthmanagement solutions to over-seas Indians. As part of the agree-ment, Banque Privée Edmond deRothschild Europe will provideits expertise in wealth manage-ment solutions while Axis Bankwill be the custodian of the rela-tionship with the customer.

Luxembourg, the prime business location.

Hard material matters � this is the core belief of CERATIZIT. Through profound knowledge and highly fl exible production facilities we strive to provide our business partners with direct competitive advantages in the fi eld of hard materials for tooling solutions and wear parts. Our dedication to hard material matters creates intelligent solutions for tomorrow and time to come. We maintain a close dialogue with our customers and strive for long-term business partnerships. The CERATIZITcorporate value �the views and focus of our business partners matter� is a guiding principle for all CERATIZIT employees worldwide. With around 4000 employees the company achieved a turnover of more than 600 million EUR in the last fi scal year.

wear parts / cutting tools / wood machining / stone working

CERATIZIT S.A. Route de Holzem 1018232 Mamer - Luxembourg Tel: +352 312 085-1 Fax: +352 311 911info@ceratizit.com

CERATIZIT India Pvt. Ltd. 58, Motilal Gupta Road - Barisha700 008 Kolkata - India Tel: +91 33 2494 5435 Fax: +91 33 2494 1472info.india@ceratizit.com

www.ceratizit.com

3

Innovation and superior customer care are the twoprinciples that define CTI Systems, which has today

emerged as a leading player in Luxembourg

CTI Systems, one of the leading corporatehouses in Luxembourg, is today rated as thebest when it comes to innovation, technologyand providing after sales support.

"CTI Systems was founded in 1962 as a customizedequipment manufacturer for the handling and storageof goods and materials. Today, the company is provid-ing systems for efficient and cost effective solutions"says Rene Jost, Chief Executive Officer, CTI Systems.

The company is today providing a wide range of serv-ices in the fields of:

Turn-key intralogistic solutions for:� High bay warehouses and ComStore warehouses for

heavy-duty loads � Surface treatment lines � Production and assembly lines � Complete installations for manufacturing processes

Turn-key surface coating solutions for surfacetreatment, production and assembly lines:

� Pretreatment (Shot blasting - degreasing - pickling- iron or zinc phosphatizing - nano surface treatment)

� Coating (cataphoretic coating - powder coating - au-tophoretic coating - wet paint coating)

� Curing (air dryers - infrared dryers) � Waste water treatment� Air cleaning systems

MRO (maintenance, repair and overhaul) andpainting solutions of aircraft: � Teleplatforms and crane systems � Docking systems � Engine handling in test cells � Omnidirectional carriers and lifting platforms

Commenting on the company's prime focus on theaviation industry Jost says, "The company is provid-ing superior services in the field of aviation technol-ogy such as Line maintenance tasks, which includeinspections, minor repairs, aircraft paint tasks, wash-ing & cleaning to name a few".

CTI Systems has a strong global presence with of-fices in Germany, Dubai, Malaysia and USA and has1,000 installations world-wide.

Manufacturer of custom, computer controlledequipment for automated material handling, heavy-duty storage and surface treatment systems as wellas production and access equipment. CTI Systems isstrategically located to provide cost-effective inte-grated solutions.

In addition to custom products and equipment, CTISystems offers a planning service for clients: prob-lem analysis, material flow concepts, control concepts,backup-strategy, material flow management, simu-lations, specifications, turnkey project management.

The company which has always paid special atten-tion to R&D has also always kept the interest of thecustomer as one of its top priority. At the same timeCTI Systems, an ISO 9001 accredited has alwaysmaintained very high standards.

Commenting on CTI System's relationship with itscustomers Jost says, "Beyond commissioning of asystem, we support our customers. CTI offers a fullrange of service support to guarantee a trouble-freeand reliable system operation. The CTI Hotline of-fers rapid response in analyzing, identifying and cor-recting issues".

Major projects

Some of the prestigious projects that the company hascome up with in 2008 include:Aircraft & Aerospace Industry:� A380 crane and teleplatform system for FAL (final

assembly), B777 docking system for overhaul andmaintenance hangar and a state-of-the-art A320docking system for maintenance hangar in France.

� A380 crane and teleplatform system for MRO (main-tenance, repair and overhaul) in China.

Turnkey intralogistic installations:� Fully automated high bay warehouse for transport-

ing and storage of mineral wool stacks and sandwichpanels in Finland.

� Fully automated high bay warehouse for transport-ing and storage of 24 m long medium section bun-dles in United Kingdom.

Turnkey surface coating installations:� Fully automated ComStore warehouse for coating

processes of assorted girders and profiles in TheNetherlands.

� The company has also delivered several fully auto-mated production systems including assembly sys-tem and surface treatment system with cataphoretic,autophoretic, dip and powder coating installationsfor trailers, trailer parts, busses and cooling compo-nents in Germany and Austria.

A one stop solution

Luxembourg offers awide range of assetsand opportunities fordoing business in Eu-

rope especially for Indian com-panies active in the pharmaceu-tical industry or the IT business.

Indian pharmaceutical busi-

nesses to profit from Luxem-

bourg's logistics advantages

� India has a large and fast grow-ing pharmaceutical industryproducing a wide range of med-ical products ranging fromgeneric drugs to medical dis-posals. Numerous Indian phar-maceutical producers, such asRanbaxy or Dr. Reddy's, havealready decided to tap in theEuropean market by either in-creasing their exports or by es-tablishing facilities. With its 500million inhabitants and itshealth consciousness, the Eu-ropean market offers hugegrowth opportunities for Indianpharmaceutical companies.� With its open and export-driven economy, Luxembourg isfully integrated into the EUcommon market, thus offeringthe ideal gateway for foreigninvestors to the European singlemarket. As Luxembourg hascontinuously strengthened itsposition as an intercontinentalhub in Europe, Indian compa-nies could reap the benefits ofLuxembourg logistics' advan-tages to penetrate the Europeanmarket. For example, generic

drugs or medical disposal couldbe shipped in bulk to Luxem-bourg where they could be con-verted into capsules or packedaccording to EU standards be-fore distributing them insideEurope. Another promising av-enue of opportunity is to makeuse of Luxembourg as a hub toserve the African market as Car-golux, the home base airfreightcarrier, operates direct flightsto major capitals in Africa.

Luxembourg IT and Financial

sectors rely on Indian IT solutions

� Luxembourg is one of theworld's most dynamic financialcentres, featuring expertise inthe areas of investment, inter-national finance and e-com-merce. It hosts numerous inter-national banks, insurancecompanies as well as variousother institutions from the fi-nancial sectors. To serve the re-quirements of these players, theICT sector has rapidly evolved.Luxembourg has invested heav-ily and created one of the mostadvanced ICT infrastructures tothe filling availability of IT spe-cialists. The country has alsowelcomed numerous IT special-ists from around the globe. Withthe belief that companiesshould focus on their core busi-ness, process outsourcing ofsome IT solutions and servicesto highly qualified specialists iswell accepted in Luxembourgand Europe in general. This is

perhaps the reason why IndianIT companies like TCS andWipro have already establishedoffices in Luxembourg. Whilethose large companies have al-ready reaped some benefitsfrom their presence in Luxem-bourg, plenty of room is stillavailable for ingenious SME'slooking to get a foothold in thelucrative European market.

Conclusion

� Looking at the present state ofaffairs between India and Lux-embourg, those two businessproposals offer huge opportuni-ties to be seized by ingeniouscompanies and entrepreneurs. � If larger Indian companieshave already found their waysto Europe, the LuxembourgBoard of Economic Develop-ment (BED) can provide assis-tance to interested investors inorder to help them assess in-vestment opportunities in Lux-embourg. The BED will alsoguide them through each stepof the investment process withcustomized help fitting thecompany's precise require-ments.

For more information, pleasecontact: Alok Bhardwaj, Execu-tive Director, Trade and Invest-ment Office of LuxembourgBoard for Economic Develop-ment at New DelhiTel : +91 11 2680 1966Fax : +91 11 2680 1971E-mail: alok.bhardwaj@mae.etat.lu

As Indian Inc.

increases its global

footprint, Luxembourg,

rolls out red carpet for

Indian pharmaceutical

and IT industry

Inviting India Inc.

www.bed.public.lu

The economic surge thatthe world was experi-encing at the beginning

of 2008 was abruptly haltedwith the economic recessionwhich hit the globe in the laterhalf of the previous year. PaulWurth too was hit but with itssolid portfolio of technologiesand extensive internationalpresence the company wasable to withstand the turmoil.

Commenting on the cur-rent scenario Steffen Koehler,Senior Manager CorporateMarketing says, "The two fac-tors that give us the confi-dence to face these chal-lenges are the quality of ourproducts and the skills of ouremployees".

The global leader in ironmaking technologies, PaulWurth has a rich 140 years ex-perience behind it. With aportfolio of about 650patented inventions, running25 business subsidiaries andbeing represented in morethan 40 countries, the PaulWurth Group is today one ofthe world leaders in the designand supply of complete plants,systems and processes as wellas specialized mechanicalequipment for the iron makingsector, including blast fur-naces and auxiliary plants,coke making plants and directreduction plants.

Paul Wurth's range of prod-ucts stretches from specializedequipment items to complexintegrated systems through to

engineering consultancy serv-ices and software for planningand design, simulating andoperating complete plants.

While its main target is theiron & steel industry and thenon-ferrous metals sector,Paul Wurth is also active in theother industry branches and inthe public sector.

With 1400 highly skilledstaff and 25 subsidiaries, thePaul Wurth Group has a solidglobal presence in all the ma-jor steelmaking markets, andIndia continues to be one of itsmajor markets. Commentingon the India operations,Koehler says, "In India thecompany started its activitiesin the early 80s and we forgedsome close relations withleading Indian companies.

SAIL, Tata Steel, BhushanSteel, Rashtriya Ispat NigamLtd are among our prized cus-tomers whom we are supply-ing with blast furnaces andother technologies. We re-cently won major new ordersfor the construction of blastfurnaces and coking plants inthe country."

With a team of some 80 ex-perts, Paul Wurth India pur-sues a policy of close contactwith the most eminent IndianSteel producers. Relying onown engineering capabilitiesand local supplies, Paul WurthIndia operates in a very dy-namic market and is presentlyinvolved, with other Groupentities, in a number of ambi-tious blast furnace construc-tion projects.

design, engineering, installation &

commissioning of complete systems

maintenance, repair, overhaul

and painting solutions of

aircraft

PLEASE CALL FOR PERSONAL CONSULTATION:

+352/2685-2000

WWW.CTISYSTEMS.COM

turnkey

intralogistic solutions for

high bay warehouses,

production and assembly lines

turnkey surface coating solutions

for surface treatment lines, production and

assembly lines

If you are planning on a trip to Eu-rope then this is the right time togo. The European continent’s cool

summer is a splendid way to beat theIndian summer heat. So as you packyour bags and leave for your Euro-pean break, do not forget to visit tinyLuxembourg. The little country is theGreen heart of Europe and once youland at the Luxembourg airport, youwill be left awestruck by the marvelsthe country has to offer. Rest assuredyou will feel like coming back again& again.

The city is a perfect blend of theancient and the modern. The peopleare hospitable and the countryboasts of some very good scenery.There is much more in Luxembourgthan you can imagine. The cityboasts of numerous forts and majes-tic modern buildings. Luxembourgwas one of the world's most power-ful fortresses for many centuries andmany of these relics have been pre-served. The fortifications are nowhome to many parks and gardens.The city also has many bridges andinteresting architecture in additionto many banks and other attractions.The City of Luxembourg and its an-cient quarters and fortifications weredesignated a World Heritage Site byUNESCO in 1994.

Worth visiting is the Ancient Bas-tion Louis, which is situated near the

Ministry of Public Works and theBritish Embassy residence.

The Ancient Jesuit College, whichwas founded in 1603 attracts manytourists. The college is now home tothe National Library.

Luxembourg's Bock cliff is knownfor the beautiful views it provides tovisitors. There are beautiful views ofthe suburb of Grund and of the RhamPlateau, also of the barracks built byVauban (1865), the big towers and re-mains of the Wenceslas wall (1390).

Chemin de la Corniche is com-monly known as "Europe's mostbeautiful balcony." At the southernbase of the Chemin de la Corniche,the Citadelle du St. Espirit providesspectacular panoramic views of boththe river valleys and the lower townrich with quaint cobblestone streetsand serving the area's late-nightcrowd.

The Ardennes region is a scenicwonderland for bikers. Bikers whoprefer riding with a group can takepart in various sporting events, in-cluding guided tours. However, cy-clists are also welcome in other partsof Luxembourg, including theMinette region with its canyonscenery, Gutland brimming withmeadows and forests, Moselle offer-ing views of refreshing vineyards,and Mullerthal known for its grandrock formations.

The wonderland of EuropeThe wonderland of EuropeWant to escape the city's maddening heat

and also refresh your eyes with some scenic

beauty then we suggest you take a trip to

Luxembourg - the wonderland of Europe

Pioneers in technology Surging ahead at full throttleCERATIZIT is making its presence felt at the global level and is taking

aggressive steps to increase its scope of activities

Part of the Austrian majorPlansee Group, CERATIZIT isone of the world's top five pro-ducers of hard materials.

Headquartered at Luxembourg, it is sup-ported by a sales network spanning over50 countries worldwide. A leader in thematerial science technology, the com-pany's annual turnover stands at a stag-gering 600 million Euro and it currentlyemploys over 4000 people.

CERATIZIT is committed to tech-nological leadership & employ stateof the art manufacturing techniqueslike robotic presses, extrusion presses,injection moulding, sinter hip, inhouse cvd & pvd coating & many more.

The company deals in a wide rangeof products, which include inserts &tool holders for turning & milling, msssystem for parting, grooving, thread-ing, ecocut - special design for drilling,turning, boring with one tool.

CERATIZIT is the world marketleader in selected industry sectors forunique and consistently innovativehard material products. CERATIZITprovide their business partnerswith direct compet-itive advantages,and in this mannerremain on the path-way of continuousgrowth.

Thierry Wolter, Member of the Ex-ecutive Board says, "Our dedication tohard material matters and creates in-telligent solutions for tomorrow andtime to come".

One of CERATIZIT's strengths is thepossibility to manufacture blanks andfinished, round and flat carbide wearparts for different applications accord-ing to customer's requests.

Says Thierry Wolter, "There is a con-stantly growing demand and we try tofollow up by consequent investments.Multispindle machines are common forour production. The CERATIZIT car-bide grades are supporting short deliv-ery time and reproducible quality withhighest precision".

CERATIZIT has benefited from fa-vorable economic conditions in Asia andEastern Europe, as well as from strongdemand in the NAFTA region. The com-pany's most important customers are inthe engineering, aerospace, energy andtransportation industries.

The integration of US company New-comer Products enabled CERATIZIT to

strengthen its position in North America.Based in Latrobe, the Company has nowbecome CERATIZIT's head office and lo-gistics centre for its US operations.

To further expand the global salesnetwork, new offices have been openedin Mexico and China. The company hasa strong presence in India and is takingthe India market very seriously. "We haveour office in India at Kolkata. Our staffstrength in India stands at 150 employ-ees", adds Mr. Wolter. At the CERATIZITproduction site in Kolkata, 150 col-leagues design, produce and sell carbideproducts. Ashwani Sareen, ManagingDirector, says "Industry is booming inIndia at the moment. Not only Indiancompanies are growing and expanding.Also more and more multinational hold-ings are starting up production plants inIndia. It is becoming increasingly impor-tant to stress the fact that we have notonly CERATIZIT India within the group,but also CERATIZIT in India." The mostimportant industry sectors for CERA-TIZIT India are the automotive, aero-space, bar peeling and oil & gas indus-

tries. Moreover, the Indian team is notonly in the cutting tool business. Formore than two years they have producedand sold wear part items, mainly coldheading pellets for the Indian market.

The company is active in the steelindustry and deals in Carbide

Rolls for hotrolling, TCRings, Guide

Rollers.

KEY PRODUCTS Wear parts: carbide specialties, discs,PCB blanks, tool and dyes, knives, nozzleand hobs

Wear part industries: Metal forming

Cutting tools: Drilling, turning, milling,parting & grooving, threading and multi-function tools

Cutting tools industries: Automotive,aerospace, railway industry, distributionpartners, tool makers, roll machining, barpeeling, bearings, turbines and petroindustry.

Wood machining: Tips for circular saws,indexable knives, blanks for profiling, rods,strips, drill tips, blanks for routers.

Stone machine tools: Hammer tips andmasonry tips

Working Industry: Tips for Masonry drill,Hammer drill, Glass drills.

Paul Wurth has a long tradition in the Luxembourg industry.World leaders in iron making technologies, the company

considers India amongst its most important market

An Express International initiative For feedback / comments / advertising queries : international@expressindia.com

A special thanks to the Embassy of Grand Duchy of Luxembourg, New Delhi.

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