Belgian PM Says Europe Ignored Modi's Warning on Economic Dependencies
Quick Look
- Belgian Prime Minister Bart De Wever stated that Europe had been slow to recognize the risks of economic dependency, acknowledging that Indian Prime Minister Narendra Modi had warned Europe earlier but was ignored.
- Speaking at a CII event in New Delhi, De Wever said India and Europe now face similar challenges as economic dependencies are increasingly weaponized, and emphasized India as Europe's most important partner in multilateral cooperation.
AI-generated summary
Why It Matters
Belgian Prime Minister Bart De Wever visited India to strengthen trade, investment, technology, and strategic cooperation ties. He acknowledged that Indian Prime Minister Narendra Modi had previously warned Europe about the dangers of over-reliance on other economies, but those warnings were ignored until recently.
Belgian PM said India and Europe were now facing similar challenges
NEW DELHI/MUMBAI: Belgian Prime Minister Bart De Wever on Friday said Europe had been slow to recognise the risks of becoming too dependent on other economies, admitting that Indian PM Narendra Modi had warned it about the problem much earlier but was not heard. De Wever, who was on a two-day visit to India to strengthen ties in trade, investment, technology and strategic cooperation, said India and Europe were now facing similar challenges as economic dependencies were increasingly being used as leverage. "We do not like dependencies becoming weaponised against us. You have lived this history. Your Prime Minister warned Europe about this long time ago already. But he was ignored. He wasn't listened to. We are listening now," De Wever said at a Confederation of Indian Industry (CII) event. Calling Europe's awakening "a bit late", De Wever said the region was now having the "right debates" about who it could work with in a world where major economic powers were moving in different directions.
Join conversation
Share your thoughts in the comments
Be respectful · TOI community guidelines
He said India was the most important partner for Europe among countries that believed in multilateralism and cooperation based on "respect and not force". "If India is not on the list, then you have missed something fundamental. India is on that list. It's number one," De Wever said. In an apparent reference to China, De Wever said Europe was seeking to reduce its dependence on "big economical powerhouses" that were moving away from rules-based cooperation. "I will not name them China," he said, adding that such a direction was not what Europe wanted. Speaking on the occasion, Union commerce minister Piyush Goyal said the India-EU FTA was a win-win for everyone. "It will open opportunities for farmers, start ups, women entrepreneurs, it has something for everyone. It's been deftly negotiated protecting sensitive sectors on both sides. It offers huge potential for both sides," he said.
End of Article
What to Watch
AI outlook — possibilities, not facts
The India-EU Free Trade Agreement will be finalized and ratified within the next 12 months.
Likely · Within months
Open Questions
- What specific sectors are considered sensitive in the India-EU FTA?
- Which countries is Europe seeking to reduce dependence on, beyond the implied reference to China?
- What are the timelines for implementing the India-EU FTA?