Maharashtra Chief Minister Devendra Fadnavis has pitched a dedicated Mumbai–Antwerp economic corridor, seeking to build on the long-standing links between India’s financial and diamond hub and Belgium’s global trading centre.
The proposal comes as India-Belgium merchandise trade moved into a surplus for India in FY26. Bilateral trade stood at around US$13.01 billion, with Indian exports at US$6.60 billion and imports from Belgium at US$6.41 billion, leaving India with a surplus of approximately US$190 million.
The diamond trade remains central to the India-Belgium relationship, connecting Antwerp with Mumbai and Surat. During the recent India-Belgium high-level dialogue in Mumbai, Fadnavis proposed expanding this relationship beyond diamonds into finance, technology, logistics, ports and sustainable development.
The proposal gains significance as both countries have committed to doubling bilateral trade over the next five years. India and Belgium have also agreed to establish an Investment Fast-Track Mechanism to facilitate Belgian investment in India.
The India-EU Free Trade Agreement is expected to provide additional momentum to bilateral commerce. Union Commerce and Industry Minister Piyush Goyal said the agreement could create new opportunities for cooperation in gems and jewellery, including lab-grown diamonds, while also encouraging collaboration in technology and certification between Antwerp, Mumbai and Surat.
For Maharashtra, Fadnavis has positioned Mumbai as a potential gateway for stronger European trade, supported by the state’s ports and industrial ecosystem. Proposed cooperation with Antwerp-Bruges includes port digitalisation, green shipping, hydrogen, logistics and skills development.
The corridor proposal forms part of a wider effort to diversify bilateral trade beyond the traditional diamond business. India and Belgium are also exploring cooperation in semiconductors, pharmaceuticals, critical minerals, clean energy, advanced manufacturing and maritime infrastructure.
For the Indian gems and jewellery sector, closer Mumbai–Antwerp ties could strengthen connectivity between two critical nodes of the global diamond supply chain while opening the door to wider collaboration in technology, certification and trade infrastructure.
