India-Belgium Set Ambitious Goal to Double Bilateral Trade in Five Years, Expand Cooperation in Defence, Semiconductors and Green Energy

India and Belgium today reaffirmed their commitment to deepening trade, investment and economic cooperation. Prime Minister Narendra Modi and Belgian Prime Minister Bart De Wever welcomed the growing diversification of sectors in bilateral trade in the India-Belgium Joint Statement issued after their talks. The two countries have set an ambitious goal of doubling bilateral trade over the next five years.

India and Belgium identified significant potential for cooperation in pharmaceuticals, life sciences, semiconductors, defence manufacturing, critical minerals, renewable energy, ports, logistics, space and advanced technologies.

Both leaders acknowledged abundant opportunities for mutually beneficial partnerships, noting that Belgium is the 24th biggest economy in the world and that India has an ambition to become a 10 trillion dollar economy in the coming years.

India-EU Trade and Investment Agreements

Both leaders welcomed the successful conclusion of negotiations on the India-EU Free Trade Agreement and called for its timely implementation. They also called for early completion of negotiations on the India-EU Investment Protection Agreement and the Geographical Indications Agreement.

Defence and Counter-Terrorism Cooperation

On defence and security, Belgium conveyed solidarity with India in the fight against terrorism and condemned the terror attack in Pahalgam. Both sides agreed to strengthen cooperation against terrorism and explore the establishment of a Joint Working Group on Counter-Terrorism.

The two countries also signed a Letter of Intent to strengthen defence cooperation through regular exchanges, training, research and defence-industrial partnerships.

A Memorandum of Understanding was also signed between the Central Bureau of Investigation and the Federal Police of Belgium to combat transnational organised crime and cybercrime.

India-Belgium Strategic Dialogue

Prime Minister Narendra Modi and visiting Prime Minister Bart De Wever welcomed the launch of the India-Belgium Strategic Dialogue. They also stressed the need for reform of the United Nations Security Council.

Belgium reaffirmed its support for India’s candidature for permanent membership of a reformed and expanded Security Council.

Renewable Energy and Advanced Technologies

India and Belgium renewed their cooperation in renewable energy, including green hydrogen, solar power, energy storage and offshore wind.

The leaders also encouraged greater cooperation in semiconductors, artificial intelligence, startups and emerging technologies.

Connectivity and People-to-People Ties

The two sides agreed to strengthen connectivity and people-to-people ties by expanding visa processing capacity and exploring direct air connectivity between India and Belgium.

Prime Minister Modi also invited leading Belgian universities to establish campuses in India.

The two leaders exchanged views on international issues, including the situations in Ukraine and West Asia, and reaffirmed their support for dialogue and diplomacy to address conflicts.

Belgian Prime Minister Bart De Wever invited Prime Minister Modi to visit Belgium at a mutually convenient time.

The two leaders reaffirmed their commitment to further deepening the India-Belgium partnership, guided by mutual trust, democracy, the rule of law and a shared vision of peace, prosperity and development.