India-Belgium Aim To Double Bilateral Trade In 5 Years, Sign Migration Partnership: PM Modi After Talks With Bart De Wever
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New Delhi : India and Belgium will work to double bilateral trade over the next five years, Prime Minister Narendra Modi said on Thursday, as the two countries moved to deepen economic, defence, clean energy and technology cooperation.
The target was announced after Modi held talks with Belgian Prime Minister Bart De Wever at Hyderabad House in New Delhi. De Wever is on a three-day official visit to India at the invitation of Prime Minister Modi.
The two sides also agreed to strengthen investment facilitation and business-to-business engagement.
Addressing the joint press statement following his meeting with De Wever, PM Modi said the India-European Union Free Trade Agreement concluded earlier this year has opened up new possibilities for economic ties.
"Earlier this year, we concluded a historic Free Trade Agreement between India and the European Union. This unprecedented cooperation between two of the world's largest democratic powers will further strengthen global stability, growth, and shared prosperity," Modi said.
He said India and Belgium have taken several steps to translate the new economic opportunities into concrete outcomes, including establishing an Investment Fast-Track Mechanism in India for Belgian companies.
"We have decided to make the India-Belgium Business Forum a regular mechanism. We will enhance synergy between the financial, fintech, and regulatory institutions of both nations, and through these measures, we will realise the goal of doubling bilateral trade over the next five years," he said.
According to Ministry of External Affairs, bilateral trade between India and Belgium reached around $13.01 billion in 2025-26, while Belgium's cumulative foreign direct investment into India was about $4.2 billion between April 2000 and December 2025.
The Prime Minister also said that India is set to sign a Migration and Mobility Partnership Agreement with Belgium to facilitate the movement of talent within the two countries, Prime Minister Narendra Modi said on Thursday following delegation-level talks with his Belgian counterpart Bart De Wever.
The two countries also expanded cooperation beyond traditional sectors to areas like defence, PM Modi said as he addressed the joint press meet.
"Today, we agreed to strengthen connections between our startups and enhance capacity building in the maritime sector. We will also reinforce cooperation in the university and research sectors, and we will soon sign a Migration and Mobility Partnership Agreement to facilitate the movement of talent," PM Modi said.
He further said that both leaders also held detailed discussions on regional and global developments. "Both India and Belgium believe in the rule of law, dialogue, and diplomacy. Whether it is Ukraine or West Asia, we support all efforts towards an early end to conflict and the establishment of peace; furthermore, eradicating terrorism in all its forms is our shared commitment," he said.
PM Modi said defence and security cooperation is a key pillar of India-Belgium ties and today, the two countries have agreed to enhance military exchanges and training cooperation.
He said the agreements reached between the two governments and defence industries will open up new opportunities for defence co-development and co-production. "We will also further strengthen intelligence sharing and cooperation against crime between our respective agencies," he said.
"A clean energy future and reliable supply chains are our shared priorities. The MoU on renewable energy signed today will give new momentum to our cooperation on sustainability. We have decided to enhance cooperation in the processing and recycling of critical minerals. Belgium's expertise in semiconductors and India's scale complement each other; in this regard, we will work together to integrate Belgium's IMEC Institute with India's semiconductor ecosystem. People-to-people ties are the greatest strength of our relationship," he said.
The Prime Minister congratulated the Belgian PM for jointly hosting the Hockey World Cup with the Netherlands.
"I extend my heartiest congratulations to you for the magnificent organization of this World Cup. I also commend our players for their hard work and performance. Diamonds have long linked India and Belgium. Today, we are transforming this historic bond into a comprehensive partnership. I am confident that our discussions today mark the beginning of a new chapter in our bilateral relations," Modi said.