India and Belgium Agree to Strengthen Trade, Defence, and Economic Cooperation
Key Developments in India-Belgium Relations
High-Level Talks and Agreements
Sept 3 (Reuters) - India and Belgium agreed on Thursday to strengthen ties in areas including trade and defence, Indian Prime Minister Narendra Modi and his Belgian counterpart Bart de Wever said. De Wever held talks with Modi in India.
Expansion of Cooperation
• "Today, during the talks with PM Bart de Wever, we agreed to deepen cooperation across trade, defence, clean energy, critical minerals, semiconductors, research and talent mobility," wrote Modi on X.
Investment and Trade Initiatives
• "We have also established an Investment Fast-Track Mechanism for Belgian companies and will work towards doubling bilateral trade over the next five years," Modi added.
Context within Broader EU-India Relations
Recent EU-India Trade Deal
• India and the broader European Union struck a long‑delayed deal in January that will cut tariffs on most goods, aiming to boost two-way trade and reduce their reliance on the U.S. amid growing global trade tensions.
Future Outlook for the Trade Deal
• European Commission President Ursula von der Leyen said in June that the EU/India trade deal would be formally signed by the end of 2026.
India's Economic Performance
Recent Economic Growth Data
• Data published on August 31 showed that India's economy — the third-biggest in Asia — expanded 7.8% year on year in the April-June quarter, beating forecasts.
(Reporting by Sudip Kar-Gupta; Editing by Edmund Klamann)
