India, Belgium Pledge Deeper Trade and Defence Cooperation
India and Belgium agreed to deepen cooperation in trade, defence, clean energy, and semiconductors, targeting doubled bilateral trade within five years.
Indian Prime Minister Narendra Modi and Belgian Prime Minister Bart de Wever held talks on Thursday, agreeing to significantly expand bilateral cooperation across multiple strategic sectors. The discussions covered trade, defence, clean energy, critical minerals, semiconductors, research, and talent mobility.
Announcing the outcomes on social media, Modi stated that the two nations have established an Investment Fast-Track Mechanism specifically for Belgian companies. Both leaders also committed to working towards doubling bilateral trade over the next five years.
The meeting comes against the backdrop of a landmark trade agreement between India and the European Union, struck in January, which aims to reduce tariffs on most goods. That deal is intended to boost two-way commerce and lessen economic reliance on the United States amid escalating global trade tensions.
European Commission President Ursula von der Leyen indicated in June that the EU-India trade pact is expected to be formally signed by the end of 2026. The diplomatic push also follows recent data showing India's economy, Asia's third-largest, expanded by 7.8% year-on-year in the April-June quarter, surpassing market forecasts.