India–EU FTA Opens Major Opportunities
Piyush Goyal highlights trade, investment and cooperation potential with Belgium and the European Union
- FTA links a market of 2 billion people
- India–EU trade has reached nearly USD 140 billion
- Belgium and India eye cooperation in key emerging sectors
- Antwerp-Bruges to strengthen India–Europe trade connectivity
GG News Bureau
New Delhi, 5th Sept: Union Commerce and Industry Minister Piyush Goyal said the India–European Union (EU) Free Trade Agreement (FTA) will create significant opportunities for farmers, fishermen, MSMEs, startups, innovators, manufacturers and service providers in India and Europe.
Addressing the India–Belgium High-Level Dialogue on the India–EU FTA in Mumbai, Goyal said the agreement had been negotiated while protecting sensitive sectors on both sides.
He said the FTA brings together a market of 2 billion people, representing a quarter of global GDP and a third of global trade. Goyal said all 27 EU countries were supportive of completing the formalities and bringing the agreement into force at the earliest.
Belgian Prime Minister Bart De Wever said the FTA would strengthen trade, investment and economic resilience while creating opportunities for companies and young talent. He highlighted the Port of Antwerp-Bruges as an important logistical link between India and Europe.
Goyal said India and Belgium could deepen cooperation in gems and jewellery, including lab-grown diamonds, semiconductors, green hydrogen, defence, advanced manufacturing, agriculture and food processing.
He said Belgium’s micro-electronics research capabilities could complement India’s scale and talent to develop a design-to-fabrication semiconductor ecosystem. He also highlighted opportunities to connect India’s Green Hydrogen Mission with Antwerp-Bruges’ green shipping infrastructure.
On defence and advanced manufacturing, Goyal highlighted potential cooperation with John Cockerill in areas including counter-drone systems, electronic warfare and precision munitions.
Goyal also identified agriculture and food processing as areas of cooperation, including potato processing, cold chains and sustainable agri-value chains.
He said India–EU trade had doubled over the last decade to nearly USD 140 billion and described the Port of Antwerp-Bruges as a potential gateway for Indian exports into European markets.
Goyal further highlighted India’s expanding semiconductor, AI, critical minerals, nuclear energy, space technology and research capabilities, and invited Belgium and the EU to partner with India in these sectors.
He also called for greater workforce mobility, mutual recognition of qualifications, joint skills development and dual-degree programmes to address talent requirements in both economies.
