Belgium and India have much to offer one another

Early March 2025, 362 representatives from Belgian companies and universities, led by Princess Astrid, travelled to India as a closer collaboration in numerous fields could yield fruitful results. Think of waste management, greener steel, ecological construction, cancer therapy, defence, and digital communication. Our embassy in Delhi and the consulate-general in Mumbai helped organize everything brilliantly.

The balance of power in the world is shifting significantly, causing a lot of uncertainty. Just think of the unpredictable behaviour of the US and the tensions between the US and China. The Global South, basically the former developing countries, is trying to regroup under the leadership of emerging powers.

Rising giant

In a situation like this, it is crucial for a small country like Belgium, but also for the EU, to forge new alliances or deepen existing ones. The long-planned economic mission to India led by Princess Astrid couldn’t have been timed at a better moment.

For India is one of those rising giants. Of its 1.4 billion inhabitants, 500 million belong to the middle class, which in itself offers huge potential. Currently, the South Asian country is the fastest-growing major economy in the world, ranking 5th among the largest economies. Moreover, it aims to become the 3rd largest economic power by 2030, surpassing Japan and Germany, which are currently the 4th and 3rd largest economies, respectively.

Complementary

A fair amount of trade already takes place between Belgium and India. In 2023, India was Belgium's 18th biggest customer (€4.9 billion) and 16th biggest supplier (€6.5 billion). Diamonds account for a significant portion of this trade—52.5% of imports and 34.6% of exports—but this is on a downward trend. So there's a need for diversification, and not just that. Both countries can also do a lot more for each other. A closer collaboration can greatly benefit both the economy and the standard of living.

For both countries are strikingly complementary. Belgium boasts a solid industry with advanced technologies and skilled businesspeople. Additionally, our country can serve as a gateway to the European market. India, on the other hand, offers a vast market alongside a rapidly growing economy.

But much can also be exchanged for mutual benefit in specific sectors. For example (see also highlights box):

• health and life sciences: vaccine production, cancer therapy …
• transport and logistics: ports, dredging works …
• climate and renewable energy: water and waste management, green hydrogen …
• aerospace and defence: telescopes, parts for tanks …
• construction and eco-construction: energy-efficient materials and techniques like insulation and low-carbon concrete …
• lower carbon footprint of steel: cold rolling technologies, …

37 contracts

All these sectors were extensively addressed during the economic mission that took place from 1 to 8 March 2025. In the wake of Princess Astrid, Minister of Foreign Affairs Prévot, Minister of Defence in charge of Foreign Trade Francken, and Minister-President of the Government of Flanders Diependaele, no fewer than 358 Belgian entrepreneurs, academics, journalists and others followed. Together they represented 142 companies.

The two visited metropolises were not chosen at random. Delhi – with its 33.8 million inhabitants, the most populous city in India – is the capital with a thriving economy, particularly in the services sector. Mumbai – with 21.7 million residents, the second most populous city in India – serves as India's financial and commercial capital. This metropolis is the economic engine of India, with over 10% growth in recent years, and is home to large ports.

Eventually, 24 contracts were signed between Belgian and Indian companies in Delhi, while 13 companies and academic institutions signed contracts in Mumbai. But that is not the whole story. The members of the delegation also had ample opportunity to introduce themselves to Indian businesspeople and to learn about India's strengths.

The Federation of Enterprises in Belgium (FEB) organized a power lunch at the Belgian residence in Delhi where captains of industry from both countries could network to their heart's content. And during an investment lunch in Mumbai, Belgium's advantages were promoted to potential Indian investors.

Prime Minister Modi

There was also a very clear political dimension as India is not only an economic growth hub but also positions itself as a leader of the Global South. As such, it plays a crucial role on the current global chessboard.

Meetings were scheduled with, among others, the Indian Minister of External Affairs and the Minister of Commerce and Industry. Prime Minister Narendra Modi spent a remarkable amount of time talking to the Belgian dignitaries. Afterwards, Minister Prévot stated that "this exceptional high-level meeting reflects the importance India attaches to our economic mission and our cooperation." He assured that the discussions were candid and mutually respectful.

Empowerment of women

In these turbulent times, defence could not be overlooked either. Minister Francken not only met with his Indian counterpart, he also laid a wreath at the famous war memorial India Gate. In doing so, he paid tribute to the Indian soldiers who fell in Flanders and France during WWI. Additionally, a round table discussion on the defence sector took place. Belgium and India will collaborate more closely in the field of defence, and a defence attaché will be appointed at the Belgian embassy. Furthermore, John Cockerill expressed interest in producing parts for tanks in India.

In a country where women still struggle to get ahead, our Federal Public Service and the Belgian embassy organized a panel on women's empowerment. The panel discussed the obstacles women encounter on their path to leadership and entrepreneurship. These include, among other things, limited access to capital, unpaid caregiving work, and career paths that are not sufficiently open to women. A truly thriving economy cannot exist without stronger and more empowered women!

Iconic embassy building

Once again, this mission proved to be impeccably organized, which is traditionally a joint achievement by the Foreign Trade Agency, the Federal Public Service Foreign Affairs, and the three regional agencies responsible for promoting trade and investment (FIT, AWEX and hub.brussels).

Our posts in India, the embassy in Delhi and the consulate-general in Mumbai, pulled off a real feat by organizing numerous meetings, including with Indian ministers and the Prime Minister, and by arranging travel and accommodation.

Quite extraordinary was the beautiful setting we were able to offer. Did you know that our iconic embassy building from 1984 in Delhi is praised as one of the most beautiful Indian buildings of the 20th century? The renowned Indian artist Satish Gujral designed it.

Undoubtedly, a highlight of this mission was the grand reception held in the beautiful garden of the embassy on the second day. Under atmospheric lighting, the more than 800 Belgian and Indian guests had every opportunity to network. The evening began with the arrival of Princess Astrid, accompanied by delightful Indian percussion and surrounded by traditional dancers from Rajasthan. The attendees were treated to a delicious buffet in a jazzy atmosphere, where our chips were not lacking!

Lamp lighting

Both in Delhi and Mumbai, the visit began with a ritual where the host and the guests lit an oil lamp. This is a way to show warmth and care to the guests so that everyone feels comfortable and welcome. Hopefully, this atmosphere of love and peace will linger around our mutual relations, allowing the meetings to develop into a close cooperation that benefits both sides.

In any case, our posts will continue to follow up on the established contacts. Despite its almost limitless potential, India remains a rather complex and bureaucratic country where doing business is not always easy, especially for companies and SMEs with little experience. In such cases, our posts are always ready to assist you with advice and support.