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Luxembourg Welcomes New Policies on Green Energy, Looks for Expansion Kolkata News

In its second outing at the Bengal Global Business Summit (BGBS), Luxembourg sees a huge potential for investment in energy, health technology, and clean technology sectors in West Bengal. 

Speaking with The Indian Express on the sidelines of the Summit in Kolkata on Wednesday, Ambassador of the Grand Duchy of Luxembourg to India, Peggy Frantzen, said: “Companies from Luxembourg already have a presence in West Bengal. We hope they can further expand their presence here and more companies become active in West Bengal in the near future.” 

Speaking on the investment opportunities in West Bengal, Frantzen said, “It would be nice if we can find some common ground in the health and technology sectors, which is one of the priorities in Luxembourg. Clean technology is another sector which we prioritize. There are some areas we have in common. Thanks to BGBS, some connections could be made. Some interests manifested themselves with some companies.”

Lauding the West Bengal government’s initiative to come up with new policies in energy and other sectors that were announced by Chief Minister Mamata Banerjee on Tuesday, Frantzen said, “The Green Hydrogen Policy and New and Renewable Energy Manufacturing Promotion Policy will hopefully be areas where we can strengthen our cooperation. Unfortunately, there was no policy on manufacturing. We have some companies in India that work in this (manufacturing) sector. Hopefully, there will be a policy in this area in the future.”

Luxembourg, a small European country, is the 15th largest foreign direct investor in India. At present, four companies from Luxembourg are operating in West Bengal. Representatives of these companies — Rotarex, Boson Energy, Ceratizit, and Amer Sil Ketex — made separate presentations at the country session held at Biswa Bangla Mela Prangan as part of the BGBS on Wednesday.

Source: India Post English