Prime Minister Narendra Modi and the Prime Minister of Belgium announced comprehensive bilateral agreements spanning economic, defense, and energy cooperation during the Belgian leader's first official visit to India. The leaders established an Investment Fast-Track Mechanism for Belgian companies in India and made the India-Belgium Business Forum a regular mechanism to enhance economic coordination. They set an ambitious target to double bilateral trade over the next five years and will strengthen coordination between financial, fintech, and regulatory institutions of both countries.
Defense cooperation emerged as a key pillar, with agreements to enhance military exchanges, training cooperation, and intelligence sharing between agencies. The nations will pursue defense co-development and co-production initiatives, specifically mentioning advanced defense equipment including the Zorawar tank project.
In clean energy and critical sectors, the countries signed an MOU on Renewable Energy to boost sustainability cooperation. They agreed to enhance cooperation in processing and recycling of critical minerals and will connect Belgium's IMEC Institute with India's semiconductor ecosystem to leverage complementary strengths. The partnership also includes developing one of the world's largest green ammonia projects in Kakinada, Andhra Pradesh.
People-to-people ties will be strengthened through enhanced startup connections, capacity building in the maritime sector, and strengthened university and research cooperation. A Migration and Mobility Partnership Agreement will soon be concluded to facilitate talent mobility between the two nations.
Prime Minister Modi highlighted India's strong economic performance, noting 7.8% GDP growth in the last quarter despite global upheavals affecting food, fuel, and supply chains. He referenced the recently concluded historic India-European Union Free Trade Agreement as creating new avenues for economic relations. Both leaders expressed support for efforts aimed at ending conflicts in Ukraine and West Asia and shared commitment to eliminating terrorism in all forms.