India

Union Minister of Commerce and Industry Piyush Goyal said that the India–European Union (EU) Free Trade Agreement (FTA) opens huge opportunities for farmers, fishermen, MSMEs, small industries, innovators, startups, women entrepreneurs, manufacturers and service providers in India and Europe. Addressing the India–Belgium High-Level Dialogue on the India–EU FTA in Mumbai, in the presence of Prime Minister of the Kingdom of Belgium Bart De Wever and Maharashtra Chief Minister Devendra Fadnavis, Goyal said the agreement had been deftly negotiated while protecting sensitive sectors on both sides.

Prime Minister of the Kingdom of Belgium Bart De Wever said the India–EU FTA would strengthen trade and open doors for companies, young talent and investment, while making the two economies more resilient against disruptions. Highlighting the Port of Antwerp-Bruges as an important logistical link between India and Europe, he said the FTA would create opportunities in areas including diamonds, food processing, pharmaceuticals, maritime services, green hydrogen and infrastructure, and noted that tariffs on more than 95 per cent of Indian and European goods exports would be scrapped or reduced.

Goyal also highlighted opportunities in agriculture and food processing, ranging from potato processing and cold chains to other areas of food processing. He said technology and sustainable agri-value chains could serve the entire world through Belgium and India.

Goyal said that India’s Green Hydrogen Mission could power Europe through Antwerp-Bruges’ bunkering and green shipping infrastructure and called for deeper collaboration in this area.

The Union Minister said Belgium stands at the gateway of the opportunity created by the India–EU FTA. He noted that the Port of Antwerp-Bruges is Europe’s second-largest seaport and described it as the doorway through which the FTA’s promise would physically arrive in Europe or be dispatched to India. He said that by seamlessly combining Antwerp’s world-class inland barge, rail and road networks with Bruges’ seabridges, deepwater, roll-on/roll-off and automotive strengths, the port offers Indian exporters an unmatched route into the industrial and consumer heartlands of Europe.

Goyal said India’s trade with the EU had already doubled over the last decade to nearly USD 140 billion. He said India and Belgium had a choice in the face of protectionism, broken supply chains, problems in food and fuel delivery, two wars, volatility, uncertainty and major challenges, to either be swept by the prevailing chaos or build islands of trust and predictability.

Goyal invited Belgium and the European Union to partner with India, saying that Belgium’s technology, innovation and capital could find a nest in India with its scale, talent, youthful energy, young population and decisive leadership.

The Union Minister said Maharashtra offered a very inviting place for business, describing it as India’s financial and commercial capital, its industrial capital and the fastest-growing economy in the country.

Goyal invited Prime Minister De Wever and Belgian companies to engage with India with an open mind and open heart, supported by all the facilities required by modern industry. He said that underpinning all these opportunities were people, including the Indian community, students and researchers.

The Union Minister called for strengthening workforce mobility, mutual recognition of qualifications, joint skills development and dual-degree education programmes, particularly in sectors where Belgium faces a shortage of talent and youth.