India and Belgium Strengthen Economic Ties through Strategic Sector Collaboration
India and Belgium have taken significant steps to enhance bilateral trade, industrial collaboration, and investments in strategic sectors. Key areas include semiconductors, clean energy, defence, and pharma, alongside progress in EU-India Free Trade Agreement negotiations. These developments were discussed during Commerce Minister Piyush Goyal's meeting in Brussels.
- Country:
- India
In a significant diplomatic engagement, India and Belgium have charted a path to enhance bilateral trade and foster industrial collaboration, focusing on strategic sectors such as semiconductors, clean energy, defence, and pharmaceuticals.
The discussions were part of Commerce and Industry Minister Piyush Goyal's visit to Brussels, where he met with Belgian Defence and Foreign Trade Minister Theo Francken and Flanders Minister-President Matthias Diependaele on May 2.
Bilateral trade between the two countries reached USD 15.07 billion in 2023-24, with Belgian investments in India surging by 39% over the past year, totaling USD 1.1 billion. Both nations are keen on advancing EU-India Free Trade Agreement talks by addressing tariff and non-tariff barriers.
ALSO READ
-
€40m Boost Opens New Doors for Cultural and Creative Businesses in Belgium
-
Japanese Lawmakers Visit India to See Worker Protection and Skills Projects in Action
-
Indian Unions Push for Fair Recruitment and Rights for Care Workers in Germany
-
Over 9 Million People Gain Better Access to Social Protection Through ILO Support
-
Cleaner Kitchens, Polluted Skies: Hidden Health Cost of India’s Electricity Boom
Google News