Brussels (Belgium): Asserting that the combination of Belgian capacities and India’s economic growth can produce promising opportunities, Prime Minister Narendra Modi on Wednesday invited Belgian companies to invest in India, saying manufacturing in India would make their global supply chains more cost effective.
Addressing a joint statement with his Belgian counterpart Charles Michel, Prime Minister Modi said India is one of the brightest economic opportunities in the world today.
“Our macroeconomic fundamentals are robust , and at 7% plus, we are one of the fastest growing economies of the world. I believe that a combination of Belgian capacities and India’s economic growth can produce promising opportunities for businesses on both sides. Prime Minister and I have just held a productive interaction with Belgian CEOs and business persons earlier today,” he said.
“I invite the Belgian government and companies to pro-actively associate with India’s ambitious development projects including Digital India, Start Up India and Skill India. Belgian businesses can make their global supply chains more cost effective by manufacturing in India,” he added.
He said that India’s goal to modernize infrastructure, especially railways and ports, and building of 100 plus smart cities also presents a unique investment opportunity for the Belgian companies.
“These partnerships can help us reach new heights in our trade and commercial partnership,” the Prime Minister said.
Prime Minister Modi said that he has also invited Belgium Prime Minister Michel to visit India with Belgian businesses to see first-hand the reality of India’s economic and political promise.
“Prime Minister and I have agreed to enhance our cooperation in renewable energy. We would also build partnerships in areas such as harnessing waste for energy, small wind turbines and zero emission buildings. Advancement in S&T and High technology areas is of particular importance for India’s development priorities. We welcome Belgium’s collaboration in these areas,” he said.
Modi arrived in Brussels for the first leg of his three nation tour of Belgium, United States and Saudi Arabia, this morning where he will participate in the European Union-India Summit India-EU Summit and hold bilateral talks with his Belgian counterpart Charles Michel.
This is the Prime Minister Modi’s first official visit to Belgium.
Prime Minister is also expected to sign several agreements with European Union member nations.