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BILATERAL RELATIONS: INDIA-SPAIN
Relations between India and Spain have been cordial since the establishment of diplomatic relations in 1956. A Mission headed by a Cd'A opened in Madrid in 1958. The first resident Ambassador of India was appointed in 1965.
Bilateral Trade between India and Spain in 2015 (January to May) stood at around $ 3 billion; Spain's exports to India during the given period stood at $ 1.0 billion and India´s exports to Spain stood at $ 2.2 billion. Spain is India's 7th largest trading partner in the European Union. Given the infrastructure push that is planned in India in the areas of power, roads, ports, airports, telecom and urban infrastructure, especially as part of the Delhi-Mumbai Industrial Corridor and the Make in India campaign, the possibilities for cooperation are immense. India, on the other hand, could offer Spain quality options in the fields of IT and services, pharmaceuticals (particularly generics) and the chemicals sector.
Spain is the 12th largest investor in India with $1.8 billion in FDI, mostly in infrastructure (Isolux Corsan, Grupo San Jose), renewable energy (Gamesa), auto components (Gestamp), water desalination (Abengoa) and single brand retail (Inditex – Zara/Mango) A total of around 200 Spanish companies have subsidiaries, joint ventures, projects or liaison offices and purchase offices in India. There are over 30 Indian companies in Spain, the most significant ones being in the areas of IT (TCS, Tech Mahindra), energy (Avantha) and automobiles (Mahindra). The stock of Indian investment in Spain is approximately 800 million euros.
India offers huge opportunities for foreign investors thanks to its domestic market and growing middle class, its leading position in the IT or pharmaceutical industries, the development of its infrastructure and its foreign investment friendly policy.
We would be glad to help you get the best from the Indian Promise.
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