India’s relations with Belgium

Diplomatic relations between India and Belgium were established in 1948.

India-Belgium Trade

Belgium is the third largest trading partner of India in the European Union, after Germany and UK, with annual bilateral trade turnover of little over Euro 8.8 billion in 2008.

During the period 2003 – 2008, total trade between India and Belgium increased by 60%, growing from 5.5 billion euro in 2003 to 8.8 billion euro in 2008. Indian exports to Belgium during the same period went up by 124%, from 1.7 billion Euro in 2003 to 3.8 billion Euro in 2008. Indian imports from Belgium on the other hand increased by 33% during the same period, growing from 3.8 billion Euro in 2003 to 5.0 billion Euro in 2008.

Main Indian exports to Belgium

Natural/cultured pearls, Precious stones and metals; Textiles and articles; Base metals; Iron and steel; Chemical products; Articles of apparel and clothing accessories, not knitted or crocheted; Articles of apparel and clothing accessories, knitted or crocheted; Mineral products; Organic chemicals; Machinery and Electrical Equipments.

Main Indian imports to Belgium

Natural/cultured pearls, Precious stones and metals; Base metals; Iron and steel; Machinery and mechanical appliances; Chemical products; Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof: Organic chemicals; Plastic and rubber; Plastics and articles thereof; Pharmaceutical products

Investments

Belgium has emerged as the 21st largest investor in India worldwide and the 8th largest within the EU but the total FDI in India from Belgium is still relatively small, less than 0.5% of the total. In the recent past, Indian investment in Belgium has exceeded investment by Belgian firms in India. Several take-overs of Belgian firms by Indian companies have also occurred. During his visit to India, the Belgian Prime Minister mentioned that the Indian companies had invested more then one billion Euro in 2005 – 2006 and that India had emerged as the third largest investor in Belgium after US and UK.

A cumulative figure of FDI inflows from Belgium into India amounts to 180.39 million US$ from April 2000 to March 2008. It increased by 100 million US $ in 11 months time from April 2008 to February 2009 period totaling 279.90. Several Indian companies particularly in the IT and software sector have established bases in Belgium to cater to Belgian as well as other North European markets. Indian direct investment in joint ventures and wholly owned subsidiaries in Belgium exceeded more than one billion Euros over the years.

Economical and Commercial

Science & Technology

A Belgian satellite was launched by India in 2001. A Memorandum of Understanding on cooperation in space technology was signed between the two sides in November 1998. India is participating in the EU’s Galileo Project where Belgian companies are also involved. A framework agreement for cooperation in Science and Technology was signed during the visit of Belgian PM to India in November 2006. Secretary, Department of Science and Technology Dr. T. Ramasami led a 4-member delegation to Belgium from June 25 – 27, 2007 for the First Meeting of India-Belgium Joint committee on Science & Technology. The two sides agreed to cooperate in the areas of Nano Science and Technology, Life Science, Health care and Agro Bio Tech, new energy resources and clear energy, astronomy and astro-physics, environment and global change, transfer of technology and innovations, mobility of researchers and innovators. The next meeting will be held in New Delhi.

Cultural

The Cultural Agreement was signed in 1973. A Cultural Exchange Programme covering the years 1996-98 was signed with the Flemish Community in March, 1996. An India Study Centre was set up in Antwerp in 1996. There is a school of Indian classical music in Brussels and that of Indian classical dance in Ghent, both run by Belgian artists. The Indian Council for Cultural Relations (ICCR) in association with the Centre for Fine Arts (BOZAR) organized an India Festival from October 2006- January 2007. The festival included inter alia art, theatre, musical and dance performances, fashion shows and a food festival. Many Indian artists, even outside the CEP, visit Belgium on a regular basis to perform.

Indian Community

The Cultural Agreement was signed in 1973. A Cultural Exchange Programme covering the years 1996-98 was signed with the Flemish Community in March, 1996. An India Study Centre was set up in Antwerp in 1996. There is a school of Indian classical music in Brussels and that of Indian classical dance in Ghent, both run by Belgian artists. The Indian Council for Cultural Relations (ICCR) in association with the Centre for Fine Arts (BOZAR) organized an India Festival from October 2006- January 2007. The festival included inter alia art, theatre, musical and dance performances, fashion shows and a food festival. Many Indian artists, even outside the CEP, visit Belgium on a regular basis to perform.

Important visits from India

Important visits from Belgium to India

Important Agreements between Belgium and India