Fadnavis Said Maharashtra Wanted to Turn the Newly Launched India-belgium Investment Fast-track Mechanism Into Projects

Maharashtra Chief Minister Devendra Fadnavis on Friday proposed a Mumbai–Antwerp corridor and a team to fast-track Belgian investments, while Union Commerce and Industry Minister Piyush Goyal said all 27 EU members support bringing the India-EU trade pact into force quickly. They were speaking at a reception for Belgian Prime Minister Bart De Wever and his trade delegation in Mumbai as the two countries seek to deepen commercial ties and double bilateral trade within five years. Fadnavis said Maharashtra wanted to turn the newly launched India-Belgium Investment Fast-Track Mechanism into projects.

"My government will nominate a team to work with our Belgian counterparts and industry," he said. "Let us create a new economic corridor from Mumbai to Antwerp, from Maharashtra to Belgium and from India to Europe, a corridor of trade, technology, talent and trust. De Wever said the Port of Antwerp-Bruges would return to India in February 2027 with logistics, chemicals and energy companies." "We are not coming to discuss what we might do, the Belgian Prime Minister said.

"We are coming to agree on what we are doing. Goyal pointed to the political backing for the India-EU Free Trade Agreement. "There has not been one murmur of dissent on the India-EU FTA," he said.

"Every one of the 27 countries is on board, supportive and desirous of completing the formalities and entering into force at the very earliest. Such unanimous support, given the European context, is very rare." Goyal said the pact, covering two billion consumers and roughly a quarter of global GDP, could expand India-Belgium ties beyond diamonds. "The Port of Antwerp-Bruges offers Indian exporters an unmatched gateway into the industrial and consumer heartlands of Europe.

Bilateral merchandise trade rose less than 1 per cent to $13.01 billion in FY26. India's exports to Belgium increased 4.4 per cent to $6.60 billion, while imports declined 2.8 per cent to $6.41 billion. The resulting $190-million surplus reversed a roughly $270-million deficit in FY25. The FTA could extend trade into chemicals, pharmaceuticals, machinery, marine products, textiles, footwear, auto components and processed foods." Fadnavis said the current figure "dramatically understates" the potential. Reaching the governments' $26-billion target in five years would require annual growth of nearly 15 per cent. India-Belgium merchandise trade swung to a $190-million surplus for India in FY26.