India, Belgium Deepen Ties in Global Diamond Value Chain

India and Belgium remain vital partners in the global diamond value chain, Commerce Secretary Rajesh Agarwal said on Sunday, highlighting decades of close commercial cooperation in the sector.

At a meeting with diamond industry representatives in Brussels, held at the Indian Embassy, Agarwal said the strength of the bilateral relationship lies in the complementary roles each country plays. India leads the world in diamond cutting and polishing, while Belgium serves as a principal global centre for trading precious stones and diamonds.

The session brought together industry voices to discuss global trade trends, demand in key markets, business prospects and emerging challenges. Officials said the goal was to strengthen ongoing dialogue with the industry and to better understand how trade opportunities are evolving amid shifting global conditions.

The Ministry of Commerce noted that the discussions gave special attention to global diamond trade, new market trends and the long-standing business ties between the two nations.

The ministry also recalled that on October 30, Agarwal had engaged industry representatives in a detailed review of the global diamond market. That discussion covered changing demand, prevailing trends, opportunities and challenges, and included valuable feedback from stakeholders.

Separately, India, Belgium and Luxembourg have agreed to expand their economic partnership. The 19th session of the Joint Economic Commission of the India-Belgium-Luxembourg Economic Union (BLEU) considered new avenues for cooperation in aerospace, research, innovation and higher education.

Both sides reviewed the current status of bilateral trade and investment and discussed deepening collaboration in logistics, air connectivity, port development, renewable energy, clean technology, financial services, fintech, digital transformation, information and communication technology, healthcare, Ayurveda, and agriculture and food processing.