India and Belgium Deepen Economic and Strategic Cooperation

07 May 2025 CW Team

Union Minister of Commerce and Industry Piyush Goyal met with Belgian Minister of Defence and Foreign Trade Theo Francken and Minister-President of Flanders Matthias Diependaele in Brussels to advance India–Belgium economic cooperation. The meeting aimed to strengthen collaboration in trade, investment, technology, and innovation.

This engagement follows the March visit of Princess Astrid of Belgium to India, which renewed momentum in bilateral ties. Both sides discussed growing synergies in semiconductors, clean energy, defence production and pharmaceuticals, identifying the Flanders region as a key strategic partner due to its robust industrial and research ecosystem.

The meeting reviewed progress in the European Union–India Free Trade Agreement negotiations, with emphasis on removing tariff and non-tariff barriers. Goyal reaffirmed India’s status as a reliable and long-term economic partner, noting its transformative growth story and reform-driven environment.

Bilateral trade between India and Belgium reached USD 15.07 Bn in two thousand twenty-three to twenty-four. Belgian foreign direct investment into India stood at USD 3.94 Bn since April two thousand, with a thirty-nine per cent increase in the last year alone.

Both sides agreed to expand high-level dialogues and boost business exchanges to fast-track mutual growth.

Source:Press Information Bureau, Government of India

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