India Belgium Trade

Economic Relations and Investments

• In July 2026, India and Belgium launched the India-Belgium Strategic Dialogue, establishing a structured framework to strengthen bilateral economic cooperation. Both countries agreed to deepen collaboration in trade and investment, innovation, technology, green energy transition and connectivity. The launch was complemented by the India-EU Business Forum, which brought together Indian, Belgian and other European businesses, along with public and private stakeholders, to explore new trade and investment opportunities. Both sides also highlighted that the successful conclusion of the India-EU Free Trade Agreement (FTA) negotiations would further boost bilateral trade, improve market access and increase cross-border investment.
• In July 2026, Union Minister Mr. Piyush Goyal led a high-level Indian business delegation to Belgium, participating in the India–EU Trade and Technology Council (TTC) Ministerial and engaging with Belgian companies such as Thales Belgium and Silox Group to promote industrial collaboration, technology partnerships, investment and resilient supply chains.
• In March 2025, the Belgian Economic Mission to India, led by Princess Astrid and accompanied by senior ministers and over 300 business representatives, reinforced bilateral trade and investment ties. The mission focused on attracting investments and expanding collaboration in renewable energy, pharmaceuticals, defence, aerospace, chemicals and advanced manufacturing.
• During his visit to Brussels in March 2026, External Affairs Minister Dr. S. Jaishankar held discussions with Belgian leaders on strengthening economic cooperation, accelerating the India–EU Free Trade Agreement (FTA), promoting innovation-led growth and expanding collaboration in trade, technology and investment.
• Union Minister of Commerce and Industry Mr. Piyush Goyal will visit Brussels, Belgium, on October 27–28, 2025, to hold high-level discussions with EU Executive Vice-President and Trade Commissioner Mr. Maroš Šefčovič, at a critical juncture in the India–EU Free Trade Agreement negotiations. Building on momentum from the 14th round of talks, the visit aims to provide political impetus and strategic direction towards concluding a balanced and mutually beneficial FTA, with discussions expected on market access, non-tariff measures, and regulatory cooperation.
• The third round of India–Belgium Foreign Office Consultations was held in Belgium, during which both sides reviewed the full spectrum of bilateral relations and discussed ways to further deepen India–European Union ties. According to External Affairs Ministry spokesperson Randhir Jaiswal, the consultations also included an exchange of views on key regional and global issues of mutual interest.
• On May 2, 2025, Minister of Commerce and Industry Mr. Piyush Goyal visited Brussels, where he met with Belgian Defence and Foreign Trade Minister Mr. Theo Francken and Flanders Minister-President Mr. Matthias Diependaele. The discussions focused on strengthening trade and investment ties, particularly in key strategic sectors such as semiconductors, clean energy, defence manufacturing, and pharmaceuticals.
• Belgium is a valued investor in India and ranks as the 18th largest investor. FDI flows from Belgium to India from April 2000-March 2026 stood at Rs. 30,662.54 crore (US$ 4,251.51 million). Currently, the bilateral trade between the two nations comprises diamonds, pharmaceuticals, chemicals, foodstuffs, and machinery. The trade volume reflects the close economic partnership between the two countries.
• Almost all major Belgian companies operate in India, conversely, as many as 95 Indian companies are operating in Belgium as well, including big names from diverse sectors. High-skilled professionals from India form the single largest non-European diaspora in Belgium and they are productively contributing to Belgium’s economic development.
• The India-Belgium Luxembourg Economic Union (BLEU) serves as a powerful instrument to deepen trade and economic ties between the two countries.
• India has signed a deal with Belgium-based IMEC to get chip-making technology: Belgium-based semiconductor research organization, IMEC (Interuniversity Micro Electronics Centre) has agreed to provide technical support to create a semiconductor ecosystem in India.