India and Belgium Strengthen Diamond Trade Cooperation as Commerce Secretary Engages Industry Leaders in Brussels

India and Belgium have reaffirmed their longstanding commercial relationship in the global diamond industry, with Commerce Secretary Rajesh Agrawal engaging representatives of the diamond trade in Brussels to discuss international market developments, emerging industry trends and opportunities for continued cooperation between the two countries.

The interaction took place at the Embassy of India in Brussels on 30 October 2026. The engagement focused on developments affecting the international diamond trade and the established commercial connections between India’s diamond processing industry and Belgium’s diamond trading ecosystem. The discussions provided an opportunity to exchange perspectives on changing market conditions and the importance of maintaining strong relationships across the international diamond value chain.

The engagement follows broader efforts by India and Belgium to strengthen economic ties and expand cooperation in sectors where their industrial and commercial capabilities complement each other.

Antwerp, Mumbai and Surat at the Centre of Diamond Cooperation

Diamond trading has historically been an important component of economic relations between India and Belgium. Antwerp serves as a major international diamond trading centre, while Mumbai and Surat occupy important positions in India’s diamond processing, manufacturing and export industries. The commercial connections between these centres have helped establish an extensive international network linking diamond trading, cutting, polishing and jewellery manufacturing.

The Government of India has identified this relationship as an area for further cooperation. During the India–Belgium High-Level Dialogue held in Mumbai on 4 September 2026, Union Commerce and Industry Minister Piyush Goyal emphasised opportunities for collaboration in gems and jewellery, including design, technological development and lab-grown diamonds. He also called for stronger cooperation in technology and certification, including mutual recognition arrangements involving Antwerp, Mumbai and Surat.

These initiatives reflect an effort to move beyond traditional trading relationships towards greater collaboration in advanced diamond manufacturing, certification and product development. Cooperation in these areas could help Indian manufacturers strengthen their participation in international value chains while creating opportunities for Belgian technology providers, trading institutions and industry stakeholders. Press Information Bureau

India–Belgium Economic Partnership Expands Beyond Traditional Trade

The latest industry engagement comes amid a broader expansion of economic cooperation between India and Belgium. During Belgian Prime Minister Bart De Wever’s official visit to India in September 2026, the two countries recognised the enduring importance of diamond trade connecting Antwerp, Mumbai and Surat and agreed to strengthen this established partnership while exploring additional opportunities for economic growth.

The joint statement issued following the visit identified several areas for expanding bilateral cooperation, including semiconductors, pharmaceuticals, defence manufacturing, critical minerals, sustainable industries and advanced technologies. Both governments also emphasised the importance of strengthening investment relations, improving market access and developing resilient supply chains.

The two countries agreed to pursue closer economic engagement through institutional mechanisms and industry partnerships, with the objective of expanding trade and investment opportunities. Their shared emphasis on technology, manufacturing capabilities and commercial connectivity provides a wider framework within which the traditional diamond trade relationship can develop.

India–EU Trade Agreement Creates Wider Commercial Opportunities

The India–European Union Free Trade Agreement represents another important element of the evolving commercial relationship between India and Belgium. During the September high-level dialogue, Commerce Minister Piyush Goyal highlighted the agreement’s potential to create new opportunities for Indian exporters, manufacturers, small businesses and technology enterprises seeking greater access to European markets.

Belgian Prime Minister Bart De Wever also identified the diamond industry among the sectors that could benefit from deeper economic integration between India and Europe. He highlighted Belgium’s importance as a logistics and trading gateway, particularly through the Port of Antwerp-Bruges, which connects international maritime trade with European industrial and consumer markets.

The agreement’s eventual implementation could influence market access and trading conditions for several industries, including gems and jewellery. However, the specific commercial impact on diamond trade will depend on the agreement’s applicable provisions, implementation arrangements and prevailing international market conditions.

Continued Industry Engagement Supports Long-Term Commercial Relations

The Brussels interaction forms part of India’s wider engagement with European trading partners and industry representatives. On 29 October 2026, India, Belgium and Luxembourg held the 19th session of the India–Belgium–Luxembourg Economic Union Joint Economic Commission in Luxembourg, reviewing bilateral trade and investment relations and discussing opportunities for cooperation across several sectors.

The meeting covered logistics, renewable energy, financial services, digital technologies, healthcare and food processing, while also identifying opportunities for collaboration in aerospace, research, innovation and higher education. The discussions demonstrated the importance attached to sustained institutional dialogue and stronger commercial partnerships between the three economies.

Within this wider framework, the diamond industry remains an established area of India–Belgium economic engagement. Continued dialogue between government officials and industry representatives can help both countries understand evolving international market conditions, maintain commercial relationships and identify opportunities for cooperation in manufacturing, technology and trade.

Official Sources

1. Ministry of Commerce and Industry — PIB, 4 September 2026: India–EU FTA Opens Huge Opportunities; India–Belgium High-Level Dialogue.
   Read Official PIB Release
2. Prime Minister’s Office — PIB, 3 September 2026: India–Belgium Joint Statement on the Belgian Prime Minister’s Visit to India.
   Read Official Joint Statement
3. Ministry of Commerce and Industry — PIB, 30 October 2026: 19th India–BLEU Joint Economic Commission Session Held in Luxembourg.
   Read Official PIB Release