Ambassador of Luxembourg in India, Gaston Stronck, held a meeting with the leaders of the diamond industry in the office of the Surat Diamond Association (SDA). According to some reports, during the meeting he called on the owners of Indian companies to open their offices in Luxembourg. "Being one of the leading countries in the world in terms of capital accumulation and the second largest center of financial investment, Luxembourg can be called a promising area for Indian industrialists working in the polished diamond sector," Stronck said.
Listing the advantages of Luxembourg, Stronck noted that it is located only 150 km from Antwerp. He added that "in view of Belgium's tax policy, many diamond traders move their activities to Dubai. However, Luxembourg has lower taxes compared to Belgium, and Indian firms can easily access bank financing at a rate of 4% per annum. "