Belgian Prime Minister Bart De Wever has said Europe is now facing the consequences of trade and industrial dependencies that India had warned about earlier.
Speaking at a CII event, De Wever said India and Europe were dealing with similar challenges as economic dependence on other countries could be used as leverage in global trade and geopolitics.
He said India had identified these risks much earlier, while Europe took longer to recognise them.
“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. It’s a bit late maybe in Europe this awakening, but it is happening,” he said.
De Wever described Europe’s experience as a “rude awakening”, saying foreign overcapacity had been sold below cost in European markets, weakening the continent’s industrial base. He made a veiled reference to China while discussing the country that benefited most from this practice.
The Belgian PM also called India Europe’s top potential strategic partner and highlighted opportunities in trade, investment, technology and supply-chain resilience.
“India is a major democratic power, a leader in innovation, a voice that cannot be missing when a free and prosperous world is shaped,” he said.
