Belgian delegation woos Indian investors

It is in the interest of the Indian economy and the automotive industry to invest in Belgium, which is a big automotive hub and a gateway to Europe, said a delegation from that country in Pune led by the consul general of Belgium in Mumbai Jean-Joel Shcittecatte.

The delegation consists of representatives of Flanders Investment and Trade, the Belgian Technology Industry Association Agoria, the Port of Zeebrugge, PrinceWaterhouseCoopers and Belgian Customs.

It includes Bert Mons from Agoria, Sven Dewachter from the Port of Zeebrugge, Laurens Narrain and Werner Van Der Cruyssen from the Belgium Embassy in New Delhi.

They interacted with various companies over the prospects of investment in Belgium, which is strategically located and has policies conducive for foreign investment.

Belgium has an investment of over 1 billion euros from
Indian companies including Infosys, Satyam, Mahindra and Suzlon among others.

Belgium is at the heart of Europe and is well connected with consumer bases in the adjoining countries. It has a social security agreement with India over immigration policy. It is claimed that the country has an attractive tax system, which is beneficial for the investors and a flexible customs regulation.

The Indian automotive companies can benefit from the production and sales, research and development centres in Belgium. The Belgian customs too are suitable for Indian companies, which have to pay duties at the entrance and can then circulate freely. The goods are quickly cleared and the officials are approachable for tailor-made solutions to any difficulties, the delegation said during the presentation for the media.

To stimulate the Indian investments further, the government has implemented a number of incentives for businesses with operations in Flanders Investment and Trade. These range from investment incentives through attractive tax-related schemes to employment, training and research and development advantages.

Bert Mons from Agoria (vehicle industry) briefed about the automotive sector in Belgium. Sven Dewachter from the Port of Zeebrugge said they had established a permanent representation in Pune to emphasise the city’s importance in
automotive sector.

“It is the world number one hub for handling automotive cargo. With around 40% of the total cargo coming from Asia and a fast increasing volume from India in particular, the Port of Zeebrugge is an excellent logistics partner for the subcontinent,” said Dewachter.

The delegation said the Indian economy has rapidly improved in the past one or two years and Indian companies are looking for acquisitions in Belgium. They are working on more mature business plans. Therefore, the Belgium government intended to bring a global package to Indian companies.