India, Belgium Eye Strategic Sectors to Boost Trade and Investment Ties

India and Belgium are strengthening economic partnerships through high-level consultations in Brussels for broadening bilateral trade, accelerating industrial ties, and higher investment in areas like semiconductors, green energy, defence production, and pharmaceuticals. Commerce and Industry Minister Piyush Goyal met Belgian Defence and Foreign Trade Minister Theo Francken and Minister-President of Flanders Matthias Diependaele and discussed momentum on the EU-India Free Trade Agreement and emphasis on lessening tariff and non-tariff barriers in order to open up better market access.

 

Belgium is India's fifth-largest EU trading partner, with bilateral trade at $15.07 billion in 2023–24 and Belgian FDI in India at $3.94 billion since 2000-with a 39% rise in the previous year. The two sides are eager to leverage these synergies for mutual growth in newer sectors.

 

Source: Business Standard