Belgium keen on trade ties with India

Hyderabad: Belgium is interested in collaborating with India in biopharma, financial sector, nuclear energy for civil applications and logistics, according to its Minister for Foreign Trade and Foreign Affairs, Mr Du Gucht.

Speaking to newspersons on the sidelines of a visit to the Indian School of Business (ISB) by Mr Albert II, King of Belgium, Mr Gucht said the possibilities of business alliances, acquisitions and mergers were plenty between the two nations.

“For the last five years, some Indian companies, including Crompton Greaves Ltd and All Cargo, acquired some businesses in Belgium. We have expertise in biopharma and nuclear energy which can be shared with India,” he said. The modalities of collaboration in nuclear energy sector would be discussed in a meeting scheduled to be held in Delhi, he added.

The domestic banking and financial sector is also attractive for Belgium companies in view of the “strong savings” in India.

“One of our companies, KBC, signed an agreement with Union Bank of India for setting up a joint venture asset management company,” he said.

The Belgium king is leading a 150-member delegation which includes 50 representatives from industry in India.

Earlier, the Chief Minister, Dr Y.S. Rajasekhara Reddy, called on Mr Albert and Queen Paola at Hotel ITC Kakatiya Sheraton.