Prime Minister Narendra Modi with Prime Minister of Belgium Bart De Wever
| Photo Credit:
SUSHIL KUMAR VERMA
India and Belgium on Thursday set a target to double their annual bilateral trade over the next five years, from the current $13 billion, as the two countries agreed to expand cooperation across defence, trade and technology. Prime Minister Narendra Modi and his Belgian counterpart Bart De Wever identified trade and investment, critical minerals, high technologies and semiconductors as key drivers to strengthen ties amid a fragmented global geopolitical environment.
An investment fast-track mechanism’ is being set up to promote Belgian investments in India, while a separate MoU was signed between the Central Bureau of Investigation (CBI) and the Belgian Federal Police to cooperate on tackling transnational organised crime, cybercrime and related matters.
key pillar
Modi described defence and security cooperation as a “key pillar” of the relationship. “Today, we agreed to enhance military exchanges and training cooperation between the two countries. The agreements between our governments and defence industries will open up new opportunities for defence co-development and co-production,” he said, adding that intelligence sharing between the two countries’ agencies would also be strengthened.
De Wever said Belgium wants to elevate ties with India to “another level— economically, politically, but also strategically.”
He added, “We live in a more fragmented and uncertain world… Prosperity and security increasingly go hand in hand, and our relationship has already deep roots.”
Major milestone
The Belgian PM said the conclusion of the India-EU free trade pact was a major milestone, adding that the two countries were building a relationship that was broader and more strategic than ever before. Both leaders called for the timely implementation of the agreement to unlock its full potential for trade and investment.
Belgium ranks among India’s key economic partners in Europe, with bilateral trade touching $13.01 billion in 2025-26. The diamond trade forms a major part of this commerce, with Antwerp serving as one of the world’s leading diamond hubs. Belgium is also a significant source of investment for India, having contributed close to $4.2 billion in FDI inflows between April 2000 and December 2025.
Published on September 3, 2026