Mumbai, September 4, 2026 (Yes Punjab News)
Commerce and Industry Minister Piyush Goyal on Friday said all 27 European Union member states support the Free Trade Agreement (FTA) with India and are keen to complete the remaining formalities to bring the pact into force at the earliest.
Addressing the India-Belgium High-Level Dialogue in Mumbai, Goyal said the unanimous backing for the agreement was unusual in the European context and noted that there was broad support for the pact in India as well.
“I assure you it has been deftly negotiated, protecting sensitive sectors on both sides. Therefore, there has been not one murmur of dissent against the India-EU FTA,” Goyal said.
He highlighted the expected gains for India’s labour-intensive sectors, particularly fisheries, textiles and footwear. Exports of chemicals and pharmaceutical products are also expected to receive a boost once the agreement comes into effect.
Belgian Prime Minister Bart De Wever, who arrived in Mumbai from New Delhi on Friday, was received at the airport by Maharashtra Marketing and Protocol Minister Jayakumar Raval.
During his Mumbai visit, De Wever is scheduled to engage with stakeholders from the diamond, ports and logistics sectors, with the discussions aimed at further strengthening economic ties between India and Belgium.
De Wever said the India-EU FTA had been concluded at a critical time for global trade, amid growing protectionism and uncertainty.
Describing the agreement as an “expression of strategic openness”, he said it reflected mutual trust and respect and would help make India and European economies more resilient to disruptions and economic coercion.
“We are sailing through rough waters, but India and Europe have chosen another route,” De Wever said, adding that the two sides had opted for partnership at a time when markets were increasingly being closed and tariffs were being imposed.
During his talks with Prime Minister Narendra Modi, the two leaders set a target of doubling bilateral trade between India and Belgium over the next five years, against the backdrop of the successful conclusion of the India-EU FTA.
Bilateral trade between India and Belgium currently stands at around $13 billion.
India and Belgium also agreed to establish an Investment Fast-Track Mechanism to facilitate and promote Belgian investments in India. The two countries further institutionalised regular business engagement through the India-Belgium Business Forum.
The measures are expected to help expand and diversify trade and investment between the two countries.
Modi and De Wever also reviewed ongoing engagement between Belgium’s sovereign wealth fund and India’s National Investment and Infrastructure Fund (NIIF). Cooperation in the fintech sector was also discussed during their talks.
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