Union Minister of Commerce and Industry Piyush Goyal meets Belgian Prime Minister Bart De Wever at the Port of Antwerp-Bruges event in Mumbai on September 4, 2026. Photo: X/@MEAIndia via ANI
Belgian Prime Minister Bart De Wever on Friday (September 4, 2026) pitched the Port of Antwerp-Bruges as a gateway for Indian exports to Europe. He is in Mumbai for a high-level dialogue on the India-EU Free Trade Agreement (FTA).
“The India-Belgium FTA would strengthen trade, create opportunities for businesses, young talent and investment, and make the Indian and European economies more resilient to global disruptions. The Port of Antwerp-Bruges will be a key logistics link between India and Europe creating opportunities in diamonds, pharmaceuticals, food processing, maritime services, green hydrogen and infrastructure,” Mr. De Wever said.
“The agreement is expected to eliminate or reduce tariffs on more than 95% of Indian and European goods exports,” he added.
Bilateral trade between both countries stood at approximately $13.08 billion in 2025-26.
“More and more voices today are calling for barriers to go up, for markets to be shut off, and for tariffs to be imposed. Some do this entirely arbitrarily. They decide something on Monday, revoke it on Wednesday, and reinstall it on Saturday. In doing so, they inflict serious economic damage on their trading partners, making them dependent and turning them into vassals,” said Mr. De Wever.
‘Invest in India’
Union Minister of Commerce and Industry Piyush Goyal has invited Belgian companies to invest in India, saying Belgium’s technology, innovation and capital could be combined with India’s scale, talent and young workforce.
Mr. Goyal described Maharashtra as an attractive destination for investment and highlighted its position as India’s financial, commercial and industrial hub.
Meanwhile, Maharashtra Chief Minister Devendra Fadnavis said he wants Belgium to be central to the state’s growth toward a $1-trillion economy. “Our ambition is clear: to build Maharashtra into a $1-trillion economy by 2030, and we want Belgium to be a part of that journey,” Mr. Fadnavis said.
Mr. Goyal said the trade agreement, which had been under discussion for around 25 years, would create opportunities for farmers, fishermen, MSMEs, startups, women entrepreneurs, manufacturers and service providers across India and Europe.
“The India-EU FTA brings together around two billion people, representing about a quarter of global GDP, a third of world trade and a market of around $24 trillion,” Mr. Goyal said.
He said all 27 EU countries were supportive of completing the remaining formalities and bringing the agreement into force at the earliest.
Diamond opportunity
On India-Belgium cooperation in the diamond sector, Mr. Goyal said the two countries could deepen collaboration in design and co-creation in gems and jewellery, including lab-grown diamonds, while also working towards greater cooperation in technology and certification centred around Antwerp, Mumbai and Surat.
The diamond industries of India and Belgium have shared commercial links for more than a century, with Antwerp serving as a major global diamond trading centre and India playing a leading role in cutting and polishing diamonds. India-Belgium gems and jewellery trade stood at around $3.5 billion in 2025-26, according to Gem & Jewellery Export Promotion Council chairman Kirit Bhansali.
Published – September 04, 2026 11:04 pm IST
