Belgium has become crucial trading partner for India, says Sunjay Kapur
Belgian Ambassador Didier Vanderhasselt wants to increase the level of ambition in his country’s approach to India, given the impressive growth and the large size of democratic market of 1.4 billion people.
“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 that we are looking at India,” Vanderhasselt told Indian business leaders.
He spoke at a session on “A Growth Story: Opportunities in the Indo-Belgian economic partnership” held in New Delhi on 16 Oct 2023. The event organized by the Embassy of Belgium and Confederation of Indian Industry, brought together key stakeholders from both nations for a high-level panel discussion focusing on the growing opportunities in several priority sectors, from renewable energy, pharmaceuticals and connectivity, to logistics, port cooperation and the food and beverage sector.
“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,” elaborated Hervé Delphin, Ambassador-designate of the European Union to India.
The relationship between India and Belgium extends far beyond mere diplomacy; it’s a testament to the power of cooperation in a globalized world, according to Chairman CII Europe Committee Sunjay Kapur.
“Belgium has become a crucial trading partner for India within the European Union, and India, in turn, holds immense opportunities for Belgian businesses,” highlighted Kapur who is also Chairman Sona Comstar.
Companies across the globe are looking to diversify the supply-chain while India’s huge urbanization is spiking growth, noted Koen De Leus, Chief Economist, BNP Paribas.
“This coupled with the economic potential that India offers, shall pave the path for India’s growth story,” he said.
ReNew Chairman and Managing Director Sumant Sinha pointed out the 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.”
Among speakers at the session, Lotus Bakery Group CEO Jan Boone sees a lot of potentials in the Asia pacific and India in specific.
Indian companies have the ability to scale the technology and infrastructure in biotechnology sector and Belgium, with host of cutting-edge technologies, according to observation by G.V. Prasad, Chairman and Managing Director, Dr. Reddy’s Laboratories. “Hence, there lies a huge potential and scope of partnerships between the two nations.” Fiinews.com
