“The world is currently going through a period of great upheaval. Conflict situations persist in various parts of the globe, and uncertainty is impacting sectors ranging from food and fuel to supply chains,” PM Modi said during a joint press meeting with Belgium counterpart Bart De Wever in New Delhi.
PM Modi said that despite the challenging global environment, the Indian economy had maintained its “momentum”, recording a growth rate of 7.8 percent in the last quarter.
“Today, India’s growth story is becoming a source of confidence and new opportunities for the world,” PM Modi said.
He also highlighted the progress made in the India-Belgium partnership over the last decade, noting that cooperation has expanded beyond traditional sectors to strategic areas such as defence and clean energy.
“We are collaborating on modern defence equipment, such as the Zorawar tank. We are also developing one of the world’s largest green ammonia projects in Kakinada, Andhra Pradesh,” he said.
PM Modi said the conclusion of the “historic” trade deal between India and the European Union would further strengthen cooperation between the two of the world’s largest democratic powers, bringing stability, growth and shared prosperity for the world.
“India’s sustained economic progress and this agreement have opened up new possibilities for our economic ties,” he said.
PM Modi also announced that India and Belgium have established an “Investment Fast-Track Mechanism” in India for Belgian companies, while the India-Belgium Business Forum has been upgraded into a regular mechanism.
“We will enhance synergy between the financial, fintech, and regulatory institutions of both nations, and through these measures, we will realize the goal of doubling bilateral trade over the next five years,” he added.
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