India and Belgium Set Ambitious Goal to Double Bilateral Trade in Five Years
New Delhi: In a significant move to bolster international economic partnerships, Prime Minister Narendra Modi announced on Thursday that India and Belgium have committed to doubling their bilateral trade volume over the next five years. The announcement came following high-level talks with Belgian Prime Minister Bart De Wever, who is currently on his first official three-day visit to India.
The two leaders met in New Delhi to chart a path for deepened cooperation, spanning critical sectors including defense, clean energy, technology, and economic infrastructure.
Leveraging the EU-India Trade Framework
Prime Minister Modi highlighted the recent conclusion of the India-European Union Free Trade Agreement as a catalyst for this new phase of engagement.
“This unprecedented cooperation between two of the world’s largest democratic powers will further strengthen global stability, growth, and shared prosperity,” PM Modi remarked during a joint press statement. To facilitate this, the two nations have launched an “Investment Fast-Track Mechanism” in India specifically tailored for Belgian enterprises, aimed at removing bureaucratic hurdles and accelerating project implementation.
To maintain momentum, the leaders agreed to establish the India-Belgium Business Forum as a permanent, regular fixture. The nations will also harmonize their financial, fintech, and regulatory frameworks to ensure a seamless environment for cross-border trade.
Deepening Defense and Strategic Ties
Security remains a cornerstone of the bilateral agenda. Recognizing the volatile global security landscape, both nations have agreed to scale up military exchanges and joint training programs. The governments also emphasized fostering partnerships between their respective defense industries to encourage co-development and co-production initiatives. Additionally, the two countries pledged to strengthen intelligence-sharing protocols to counter criminal threats effectively.
A Focus on Clean Energy and Technology
Sustainability took center stage during the discussions, with both countries signing a Memorandum of Understanding (MoU) focused on renewable energy. Beyond energy, the leaders addressed the growing demand for critical minerals. PM Modi and PM De Wever agreed to enhance collaboration in the processing and recycling of these minerals, ensuring stable supply chains for future technological needs.
In a move to tap into global tech leadership, India intends to integrate Belgium’s renowned IMEC Institute with India’s rapidly expanding semiconductor ecosystem, combining Belgian innovation with India’s industrial manufacturing scale.
Strengthening Human Capital
Beyond industry, the visit signals a warmer relationship regarding labor and research. The countries are set to formalize a “Migration and Mobility Partnership Agreement,” which will facilitate the movement of professional talent between the two nations. Cooperation in the maritime sector and increased collaboration between university research departments are also set to define the next era of India-Belgium ties.
This diplomatic visit is particularly noteworthy as it marks the first time a Belgian Prime Minister has visited India in two decades. Prime Minister De Wever, who assumed office in February 2025, is accompanied by a high-level delegation, including Belgium’s Minister of Defence and Foreign Trade, Theo Francken.
As both nations move to execute these ambitious plans, the international community will be watching to see how this bilateral trade initiative reshapes the economic landscape between South Asia and Europe.
