Indian Prime Minister arrives in Spain

0

INDIAN PRIME Minister Narendra Modi on Wednesday urged Spanish firms to invest in India, saying that the fast-growing country offers ‘many opportunities’ in areas ranging from tourism to energy.

‘India is an enormous country and it offers many opportunities to Spanish firms in all sectors,’ he said as he arrived at Spanish Prime Minister Mariano Rajoy’s official residence in Madrid for talks.

‘I invite Spanish firms to participate in our development,’ he added.

Prime Minister Modi, who arrived in Spain late on Tuesday from Germany, his first stop on a four-nation Europe tour, was scheduled to meet King Felipe VI later on Wednesday.

He was also supposed to meet Spanish business leaders as part of his push to increase foreign investment in India, the world’s fastest-growing major economy.

‘Spanish firms are global leaders in sectors that are a priority for us. We want to attract tourism, infrastructure, energy and defence firms,’ Prime Minister Modi said in an interview published in the Spanish press.

Spain is India’s seventh largest trading partner in the European Union.

Two-way trade totalled €4.72 billion in 2016, an 8.5 per cent increase over the previous year, of which Spanish exports made up nearly €1.26 billion.

The number of Spanish firms that operate in India has risen to over 230 currently from just 70 in 2008.

‘Our bilateral relations are becoming more and more intense. I hope this visit spurs deeper ties between our two countries,’ Rajoy said.

It is the first visit by an Indian prime minister to Spain since Narasimha Rao came to the country in 1992.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here

We welcome comments from readers on our website and across our social networks. We invite you to discuss issues and share your views and we encourage robust debate and criticism provided it is civil.

However we reserve the right to reject or edit comments that:

• Contain offensive language
• Include personal attacks of any kind
• Are likely to offend or target any ethnic, racial, nationality or religious group
• Are homophobic, transphobic, sexist, offensive or obscene
• Contain spam or include links to other sites
• Are clearly off topic
• Impersonate an individual or organisation, are fraudulent, defamatory of any person, threatening or invasive of another’s privacy or otherwise illegal
• Are trolling or threatening
• Promote, advertise or solicit the sale of any goods or services

You grant us a non-exclusive, royalty-free, perpetual, worldwide licence to republish any material you submit to us, without limitation, in any format.