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Belgium invites Indian businessmen
Located in the heart of Western Europe, the tiny country of Belgium, with a population of 11 million, enjoys a key position in the European and international economy.
New Delhi: Located in the heart of Western Europe, the tiny country of Belgium, with a population of 11 million, enjoys a key position in the European and international economy. Consisting of three regions (Brussels - Captial, Flanders and Wallonia), it is home to people with high purchasing power, 80% of which lies within a radius of 500 miles from Brussels. This10th largest exporting country in the world, is thus definitely a gateway for Indians to Europe and beyond.
India is Belgium's important trading partner with gems and jewellery constituting around 75% of bilateral trade. India’s Information Technology sector is also well represented there. Several Indian companies in the chemicals sector have established offices/warehousing facilities in Belgium, particularly near the port city of Antwerp. Belgian business interests in India cover dredging, chemicals, engineering goods, banking and finance, electronics and software, fertilisers, and biotechnology. 160 Belgian companies have set up offices in India while 80 Indian companies have in Belgium. "So, more Indian companies need to tap the business potential of Belgium," said Jan Luykx, Belgian ambassador to India.
Bilateral trade has been increasing steadily, but the year 2015 showed a lull with €11.79 billion against €12.60 billion in 2014. Exports in 2014 stood at €8.53 billion as against import of €4.07 billion while in 2015 it was €7.69 billion as against €4.09 respectively.
The Indian diaspora in Belgium numbers 20,000. Of these, nearly 9,500 are Indian citizens, while others have acquired various nationalities. Around 2,500 NRIs/PIOs are based in Antwerp, mainly from Gujarat, involved in the diamond trade. Also, 600 - 800 Indian students pursue higher studies in Belgium.
"The March visit of Indian Prime Minister Narendra Modi to Brussels cemented bilateral relations during which Belgian Prime Minister Charles Michel supported India's claim for a permanent membership at the UN security council. Celebrations to mark the 70 years of establishment of diplomatic relations between India and Belgium were also discussed. The celebrations will last till 2018," said the ambassador.
"People-to-people relations are also improving with 40,000 Belgian tourists visiting India and Belgium receiving 60,000 Indian tourists every year. With the e-tourist visa facility extended to Belgians, the number of Belgians visiting India is expected to increase manifold," hoped the envoy.
By Jose Kalathil
