Union External Affairs Minister Dr. S. Jaishankar participated in the India-EU Business Roundtable on Wednesday, 15 July 2026, alongside ministerial colleagues and the Minister-Presidents of Flanders and Wallonia, as well as business representatives from both countries. The minister highlighted the growing momentum for deeper trade, investment, and research-and-development collaboration between India and Europe, anchored by the ongoing India-EU Free Trade Agreement process.

Context

Dr. Jaishankar described the roundtable as 'heartening,' pointing to the 'energy and enthusiasm for deeper business, investment and R&D collaborations' on display. He underscored the 'growing trust and comfort in India's partnership with Europe,' and stressed the importance of businesses on both sides meeting 'the ambition and potential of this relationship.' The event brought together senior political figures from Belgium's two major regions alongside industry representatives, signalling the breadth of engagement beyond the central government level.

Belgium occupies a strategically important position in the European Union, hosting the bloc's principal institutions in Brussels. Flanders, the Dutch-speaking northern region, is a hub for trade, logistics, and high-technology industries, while Wallonia, the French-speaking south, has established strengths in aerospace, pharmaceuticals, and manufacturing — sectors of direct relevance to Indian industry.

Policy Backdrop

Negotiations for the India-EU Broad-based Trade and Investment Agreement were formally launched in 2007 but stalled for years over differences on market access, intellectual property, and services. Talks were relaunched and have gained renewed urgency in recent years as both sides seek to diversify supply chains and reduce dependence on single-country partners. In 2022, India and the EU established a Trade and Technology Council, upgrading the strategic partnership and creating a structured platform for cooperation on critical and emerging technologies.

India's production-linked incentive schemes have made the country an increasingly attractive manufacturing destination for European firms seeking alternatives to existing supply-chain concentrations. Europe, in turn, is keen to secure access to India's large consumer market and its growing pool of technology talent. Dr. Jaishankar's reference to the India-EU FTA as having 'taken further' the partnership suggests the negotiations have reached a stage of sufficient maturity to serve as a live commercial signal to business communities.

Stakeholders and Impact

Indian exporters in sectors such as pharmaceuticals, information technology, textiles, and engineering goods stand to gain meaningfully from reduced tariff and non-tariff barriers under a concluded FTA. European investors, particularly those from Belgium's advanced manufacturing and logistics sectors, are eyeing India's infrastructure build-out and its expanding middle-class consumer base. Belgium's regional governments — through dedicated investment promotion agencies — have historically played an active role in facilitating India-Europe business linkages, making the participation of the Flemish and Walloon Minister-Presidents particularly significant.

The R&D dimension flagged by Dr. Jaishankar points to a newer layer of the relationship: joint research in areas such as clean energy, semiconductors, and digital infrastructure, which both India and the EU have identified as strategic priorities. This aligns with the broader framework of the India-EU Trade and Technology Council.

What's Next

Attention will now turn to the next India-EU Summit and any formal announcement regarding the conclusion of long-pending FTA chapters on services, investment, and intellectual property — the three areas that have historically been the most contentious. A concluded agreement would represent one of the most consequential trade deals in India's recent diplomatic history, given that the European Union is India's largest trading partner and a leading source of foreign direct investment. The energy displayed at the Brussels roundtable will be tested by the pace of technical negotiations in the months ahead.