Belgium delegation exploring trade opportunities in Telangana
A delegation from Belgium is exploring trade opportunities in the state of Telangana. The European country is keen to invest in several areas including smart cities, waste management and engineering goods.
Information technology, financial technology, telecom and health care are some of the main sectors where there are lot of possibilities for Indian business firms in Belgium, Brussels Area Manager-Inward Investment Verbiest Laurent told The Dollar Business Bureau.
Laurent was speaking to the press after participating in a seminar, 'Brussels: Gateway of Investments to Europe' organised by the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) in association with Ministry of Brussels Capital Region and SAS Partners Corporate Advisors, in Hyderabad on Wednesday.
According to reports released by the Embassy of India to Belgium, India is the second biggest export destination and fourth largest trade partner of Belgium outside the European Union. The bilateral trade between the two countries was around 12 billion euro in CY 2015. Gems & jewellery, textiles and chemical products are the chief exports from India to Belgium during last year.
More than 84% of global rough diamonds pass through the city of Antwerp in Belgium, which is the largest diamond district in the globe. The city has Antwerp World Diamond Centre, four diamond trading exchanges and many banks financing the diamond trade; it offers great potential to the diamond refining industry, Laurent said.
Speaking about the Indian investments in Belgium, he said, “Various Indian IT companies such as TCS, Infosys, Allerin Tech, HCL and Tech Mahindra have already established their base in Belgium. Kerala-based botanical extracts firm Arjuna Natural Extracts has recently started its operations in Brussels.”
“China’s Alibaba Group is also opening its base in Brussels. Another Chinese firm Anbang Insurance Group is expanding here. Having their base in the capital region of Brussels, these companies could cater not only to the Belgian market but also other European markets,” he explained.
FTAPCCI President Ravindra Modi, Brussels First Secretary-Trade & Investments Kathlijn Fruithof, SAS Partners Corporate Advisers Director Alex T Koshy, FTAPCCI Senior Vice President Gowra Srinivas, Vice President Arun Luharuka and its International Trade Committee Chairman Anil Agarwal, were also present on the occasion.