Joint Press Release
By
Embassy of Belgium, New Delhi and Confederation of Indian Industry
Indo-Belgian Economic Partnership Session Ignites Collaboration and Economic Growth

“To scale our technologies up and to address the challenges we face globally, we want to increase the level of ambition when it comes to our India approach. And it is not only because of the very impressive growth figures and the size of the market we are looking at India”, stated H.E Mr Didier Vanderhasselt, Ambassador of the Kingdom of Belgium to India at The Session on “A Growth Story: Opportunities in the Indo-Belgian economic partnership” held in New Delhi on 16 October 2023. The event organized by the Embassy of Belgium in New Delhi and Confederation of Indian Industry, brought together key stakeholders from both nations for a high-level panel discussion focussing on the growing opportunities in several priority sectors, from renewable energy, pharmaceuticals and connectivity, to logistics, port cooperation and the food and beverage sector.

The session was also addressed by H.E. Mr. Hervé Delphin, Ambassador-designate of the European Union to India where the newly appointed Ambassador-Designate said “Only a Team Europe approach can commensurate India's needs, India's demands and India's interests, and in Team Europe, Belgium is a strong player”.

Giving a welcome address at the session, Mr Sunjay Kapur, Chairman, CII Europe Committee and Chairman, Sona Comstar said that the relationship between India and Belgium extends far beyond mere diplomacy; it's a testament to the power of cooperation in a globalized world. Belgium has become a crucial trading partner for India within the European Union, and India, in turn, holds immense opportunities for Belgian businesses.

Mr. Koen De Leus, Chief Economist, BNP Paribas stated “Companies across the globe are looking to diversify the supply-chain. Also, India's huge urbanization is spiking growth. This coupled with the economic potential that India offers, shall pave the path for India’s growth story.”

Mr. Sumant Sinha, Chairman and Managing Director, ReNew mentioned “There is a great opportunity for EU and India to partner in much more fundamental ways. Some of the areas where EU and India can partner up are the areas of Green Hydrogen, Solar Pannel imports and carbon markets.”

Mr. Jan Boone, CEO, Lotus Bakery Group said “We are currently present in over 10 million stores across the globe and have a decent footprint in India. However, we see a lot of potentials in the Asia pacific and India in specific.”

Mr. Koen Cornilly, Port of Antwerp-Bruges quoted “With the recent merger of Port of Antwerp and Zbrush, Port of Antwerp - Bruges today has a growing importance in the region; specifically in the imports of green molecules and green electrons.”

Finally, Mr. G.V. Prasad, Chairman and Managing Director, Dr. Reddy’s Laboratories said “Indian companies have the ability to scale the technology and infrastructure in biotechnology sector and Belgium, with host of cutting-edge technologies, can be a prudent partner. Hence, there lies a huge potential and scope of partnerships between the two nations.”

Mr Pranjal Sharma, Economic Analyst, Author & Columnist: who moderated the panel discussion said "India holds an interesting position in the current global business climate. India is the world's largest free market democracy today. A country like us, who's market reform history is only thirty years old has reached quite a fascinating place."