New Delhi, Feb 27: Belgium’s Princess Astrid is set to lead a high-level Economic Mission to India starting Saturday, focusing on enhancing bilateral cooperation in renewable energy, health and life sciences, transport and logistics, and other key sectors.
Belgian Ambassador Didier Vanderhasselt highlighted that the mission aims to strengthen economic engagement between the two nations across multiple industries. With a delegation comprising 326 official representatives and industry leaders, including top Belgian companies, this will be one of Belgium’s largest-ever economic missions to India.
Focus on Climate, Defence, and Industrial Innovation
Key areas of collaboration include:
Renewable Energy & Decarbonisation – Advancing green energy solutions. Health & Life Sciences – Strengthening medical research and innovation. Transport & Logistics – Enhancing trade infrastructure. Construction & Eco-construction – Promoting sustainable urban development. Space & Defence – Expanding strategic cooperation.During the mission, 22 projects are expected to be finalized in New Delhi, while 12 additional initiatives will be concluded in Mumbai.
Belgium, known for its technological expertise in defense, is keen to explore stronger defense collaborations with India. The Belgian defense industry, with a legacy of metallurgical and mechanical advancements dating back to the early 20th century, is now a hub for cutting-edge weapon systems, aeronautical components, and security technologies.
Strengthening Trade Relations
The India-Belgium economic partnership has grown steadily in recent years, with trade and investment remaining at the core of bilateral ties. India is Belgium’s 14th largest export destination and 16th largest import source globally. Within markets outside the EU, India ranks as Belgium’s seventh-largest export destination and sixth-largest trade partner.The diamond industry drives a significant portion of bilateral trade. In 2021, total India-Belgium trade amounted to €12.22 billion, with Belgian imports from India reaching €6.07 billion, while exports to India were valued at €6.15 billion.
The Economic Mission, led by Princess Astrid as a representative of the King of Belgium, will commence in New Delhi (March 2-4) before proceeding to Mumbai, marking a significant step in advancing India-Belgium economic and strategic ties.
