Maharashtra to play key role in India-EU Free Trade Deal, says CM Fadnavis

Maharashtra will play a major role in turning the opportunities created by the IndiaEuropean Union EU Free Trade Agreement into economic growth Chief Minister Devendra Fadnavis said on FridaySpeaking at the IndiaBelgium HighLevel Dialogue in Mumbai Fadnavis said the trade agreement was not only about tariffs regulations and market access but also about building a wider partnership based on trustHe also proposed developing a MumbaiAntwerp economic partnership to strengthen cooperation between Maharashtra and Belgium in trade ports logistics technology and other sectors an official statement saidFadnavis said Belgium and Maharashtra have complementary strengths Belgium has worldclass ports and logistics infrastructure along with expertise in pharmaceuticals biotechnology chemicals advanced manufacturing semiconductors green hydrogen and clean technologyMaharashtra meanwhile has a large market skilled workforce and a strong industrial baseThe Chief Minister said Maharashtra contributes around 15 per cent of Indias gross domestic product and a similar share of the countrys exports He also said nearly onethird of foreign direct investment coming into India is received by MaharashtraFadnavis highlighted Mumbais position as Indias financial and commercial capital and Punes role in engineering automobiles technology and research He said the Navi Mumbai International Airport region is also emerging as a new centre for data centres innovation healthcare and educationThe state has set a target of becoming a USD 1 trillion economy by 2030 and Fadnavis invited Belgian companies to become partners in this growth journeyFive key areas for cooperationFadnavis identified five major areas mdash advanced manufacturing and green industries semiconductors and electronics clean energy pharmaceuticals and biotechnology and ports logistics and connectivity mdash where Maharashtra and Belgium can expand cooperationHe said cooperation in green iron and steel technology could bring together European technology Indias manufacturing capabilities and Maharashtras industrial ecosystemFadnavis also called for Belgiums semiconductor research organisation imec to work with universities research institutions and technology companies in MaharashtraHe said there was further potential for cooperation in green hydrogen industrial carbon reduction the circular economy and green technologiesFocus on ports and logisticsThe Chief Minister said Maharashtras port infrastructure including the Jawaharlal Nehru Port Authority and the upcoming Vadhvan deepsea port gives the state strong potential to become a global logistics hubHe proposed greater cooperation between the Port of AntwerpBruges and Maharashtras port ecosystem in areas such as digitalisation green shipping hydrogen logistics technology and skill developmentFadnavis also pointed to the strong links between Antwerp and Mumbai in the diamond trade He proposed expanding the relationship beyond diamonds to include finance ports logistics technology innovation and sustainable developmentHe suggested creating a formal mechanism involving governments port authorities chambers of commerce and businesses from both sidesMaharashtra to set up dedicated teamFadnavis said the Maharashtra government would create a dedicated team to coordinate with Belgian institutions and companiesThe team would identify selected investment projects under the IndiaBelgium investment fasttrack mechanism and work towards their speedy implementationHe urged Belgian businesses to bring their technology research and innovation to Maharashtra and use the state as a base to serve both the Indian and global marketsBelgium sees major opportunities in IndiaBelgian Prime Minister Bart De Wever said the IndiaEU Free Trade Agreement would connect a market of around two billion people and strengthen global tradeHe said India and Europe had chosen the path of mutual trust free trade and strategic partnership instead of protectionismDe Wever said the agreement could create new opportunities in industry research innovation investment and employment He also highlighted the importance of cooperation in ports food processing coldchain management and the diamond tradeHe said Antwerp and Mumbai share a similar identity as major commercial centres that create economic valueOver 95 per cent of goods to benefit from tariff changesDe Wever said more than 95 per cent of Indian and European goods would see import duties removed or reduced under the agreementHe said sectors such as textiles readymade garments footwear machinery and vehicle components could benefit significantlyBelgiums expertise in port development dredging maritime services and infrastructure could also support Indias maritime development plans he saidDe Wever announced that a delegation of companies from the Port of AntwerpBruges terminal operators and businesses from the logistics chemicals and energy sectors would visit India next February to discuss concrete projects and investmentsGoyal highlights opportunities for farmers MSMEs and startupsUnion Commerce and Industry Minister Piyush Goyal said the agreement would connect India and Europe through a large market and create opportunities for farmers fishermen micro small and medium enterprises startups women entrepreneurs manufacturers and servicesector businessesGoyal said AntwerpBruges one of Europes major ports could become an important gateway for Indian exporters to European industrial and consumer marketsHe also highlighted opportunities in diamonds and jewellery semiconductors green hydrogen ports defence advanced manufacturing agriculture and food processingHe said Belgiums technology innovation and capital could be combined with Indias skills young workforce and large market to create a strong global partnershipGoyal also called for greater cooperation in skill development recognition of educational qualifications joint degree programmes and workforce mobility