India and Belgium target doubling trade to €18.8 billion in five years

India and Belgium aim to double their bilateral trade within five years, announced Indian Prime Minister Narendra Modi during Belgian Prime Minister Bart De Wever's visit to India. The goal would raise trade from €9.4 billion to approximately €18.8 billion. The two leaders plan to expand economic cooperation beyond the traditional diamond trade into defense, semiconductors, green energy, and critical raw materials. Belgian Defense Minister Theo Francken signed a declaration of intent, with 15 Belgian companies participating and seven industrial collaborations planned. Belgium positions itself as a gateway to the European market, while India offers scale and ambition. A joint project includes building one of the world's largest green ammonia plants. De Wever also gifted Modi a chocolate replica of India Gate, symbolizing historical ties.