India proposes a strategic alliance to Spain to increase bilateral trade and investment tenfold in the next decade

BUSINESS RELATIONS AND INTERNATIONAL EXPANSION

The Spain-India Business Meeting, held in Madrid, brought together the top institutional and business leaders of both countries with the firm purpose of strengthening economic ties. In a context marked by the new Free Trade Agreement between the European Union and India, the Asian giant seeks to consolidate Spain as its strategic bridge to Latin America, Europe, and Africa, promoting joint projects in strategic, high-value-added sectors.

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The Spanish capital has been the setting for a key summit for the future of the Capabilities from companies in both countries. Spain-India Business Meeting, orchestrated by the Chamber of Commerce of Spain, the CEOE and Secretary of State for Commerce -through ICEX Spain Export and Investments—, has served to draw up an ambitious roadmap focused on the foreign trade and the capture of international investments.

The meeting was chaired by India's Minister of Trade and Industry, Piyush Goyal, and Spain's Secretary of State for Industry, Jordi García Brustenga. During the event, the enormous potential of capital flows between the two economies was highlighted.

In this regard, Indian Minister Piyush Goyal used his speech to launch a bold challenge to the corporate fabric of both nations: "I have set a goal and I want companies from both countries to lead this effort with very concrete and viable proposals. Can we imagine a 10x10x10 alliance between Spain and India? One that multiplies our bilateral trade tenfold in the next ten years, multiplies the number of tourists in both directions tenfold, and multiplies investment between our countries tenfold during that same decade."Goyal emphasized the strong affinity between both markets "It is destined to truly define the success story we envision in the collaboration between the EU and India.".

Spain as a technological and logistical bridge

For its part, the Spanish government highlighted the capabilities of the national industrial ecosystem to take on this international business challenge. Jordi García Brustenga described India as a priority partner and one of the world's fastest-growing economies. "We want to leverage the momentum of the Free Trade Agreement between the European Union and India to transform the growth of our trade into new investments under the 'Made in Spain' concept: shared value chains, technology transfer, and jobs with training," stated the Secretary of State.

García Brustenga noted that Spain's powerful economy boasts international leadership from leading corporations in sectors such as rail, aerospace and defense, renewable energy, and advanced manufacturing. This corporate strength makes Spain a "natural bridge for India's expansion into Latin America."

The key role of business institutions

Support for this trade agreement has also come from the main development institutions of foreign tradeInmaculada Riera, director general of the Spanish Chamber of Commerce, insisted that the time has come to scale up this macroeconomic relationship. "India and Spain share a vision based on open trade, international cooperation and investment as engines of growth."Riera pointed out, indicating Spain-India CEO Forum like the perfect gear for "Strengthen high-level business dialogue, promote joint projects and encourage new investments".

From the employers' perspective, Marta Blanco, president of the CEOE's International Relations Committee, framed this summit within the success of Bilateral Dual YearBlanco emphasized that Spain's logistical and tariff competitiveness makes it the best landing platform for Indian corporate capital, not only for the EU, but also for Latin America and Africa. Furthermore, he identified high-profit niches for future capital flows, such as... digital infrastructures, the green transition and the demanding automotive market.

The event also received the endorsement of India's main chambers of commerce. Anant Goenka and R. Mukundan, presidents of the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII), respectively, reaffirmed their country's strong appetite for investment. Finally, the Indian ambassador to Spain, Shri Jayant N. Khobragade, concluded the forum by emphasizing the urgency of strengthening these financial and commercial synergies in the face of the constant reshaping of the global economy.