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The India-Belgium High-Level Dialogue on the India-EU Free Trade Agreement was held in Mumbai, with Commerce and Industry Minister Piyush Goyal, Belgian Prime Minister Bart De Wever and Maharashtra Chief Minister Devendra Fadnavis.
The FTA covers 2 billion people, about a quarter of global GDP, a third of world trade and a market of USD 24 trillion; all 27 EU member states are on board.
Belgium's Prime Minister said tariffs on more than 95 per cent of Indian and European goods exports would be scrapped or reduced.
India-EU trade has doubled over the last decade to nearly USD 140 billion; the Port of Antwerp-Bruges is projected as the gateway for Indian exports into Europe.
Five areas were identified for India-Belgium cooperation: gems and jewellery, semiconductors, green hydrogen, defence and advanced manufacturing, and agriculture and food processing.
Co-creation and design, including lab-grown diamonds as a new area.
Key: Anchored on the diamond centres of Antwerp, Mumbai and Surat, with cooperation on technology and mutual recognition of certification.
Pair Belgium's micro-electronics research with India's scale and talent.
Key: Aims at a design-to-fabrication ecosystem; India's Semicon India 2.0 carries a USD 14 billion outlay and is expected to catalyse about USD 70 billion of investment.
Route Indian green hydrogen to Europe.
Key: Uses the bunkering and green shipping infrastructure at Antwerp-Bruges, linked to India's Green Hydrogen Mission.
Industrial collaboration in high-end defence production.
Key: MoUs exchanged with Belgian firm John Cockerill, which makes ammunition for India's Bofors guns; areas named include counter-drone systems, electronic warfare, precision munitions and export corridors for India-designed BrahMos and Pinaka systems.
Build sustainable agri-value chains.
Key: Covers potato processing, cold chains and food-processing technology.
A 27-member economic and political union with a single market allowing free movement of goods, services, capital and people; it negotiates trade agreements on behalf of all members.
Europe's second-largest seaport and Belgium's principal port, projected as the entry point for Indian exports into Europe.
Ministerial-level body coordinating strategic cooperation on trade, technology and security, running alongside the FTA track.
A carbon price levied by the EU on imports of carbon-intensive goods, so that imported products face a charge comparable to what EU producers pay under the emissions trading system. Its definitive period began on 1 January 2026, ending the reporting-only transitional phase and creating binding financial obligations for importers.
Simple Analogy: A customs duty priced by carbon rather than by value.
GS Paper 2 > International Relations > Bilateral and Regional Groupings; GS Paper 3 > Economy > External Sector
General Awareness > Current Affairs > International Agreements
General Awareness > Economy and Trade
'Broad-based Trade and Investment Agreement (BTIA)' is sometimes seen in the news in the context of negotiations held between India and
Answer: European Union
The term 'Digital Single Market Strategy' seen in the news refers to
Answer: EU
Which of the following adopted a law on data protection and privacy for its citizens known as 'General Data Protection Regulation' in April 2016 and started implementation of it from 25th May, 2018?
Answer: The European Union
Consider the following statements: The 'Stability and Growth Pact' of the European Union is a treaty that 1. limits the levels of the budgetary deficit of the countries of the European Union 2. makes the countries of the European Union to share their infrastructure facilities 3. enables the countries of the European Union to share their technologies How many of the above statements are correct?
Answer: Only one
The original name of the India-EU trade negotiation launched in 2007, stalled in 2013 and relaunched in 2022.
The EU arrangement allowing free movement of goods, services, capital and people across its 27 member states.
A ministerial coordination platform on trade, technology and security; India's was launched in February 2023, and the EU has a similar one with the United States.
A diamond produced in controlled conditions from carbon rather than mined; identified as a new India-Belgium cooperation area.