Spain, which is the eighth biggest global investor and the ninth recipient of FDI, has earmarked India as a commercial and economic priority.
The country wants to be an active partner in the Indian economy, announced the Spanish minister for industry, tourism and commerce Joan Clos at the ?India?Spain Business Meet?, organised by Ficci here on Thursday.
?Spanish companies are shifting their focus from their traditional markets in Europe and Latin America, paying increased attention to other emerging markets with great potential, such as India,? the minister said. According to Clos, Spanish investors are willing to prove their reliability and savoir-faire in India as well, if they are given a fair chance to do so especially in public-private partnerships in infrastructure development projects planned in India.
Companies from Spain can tap opportunities in IT, BPO, wind power generation, bio fuel, tourism and food processing in India. Spain is also leading some traditional industrial fields due to the high productivity of Spanish groups, the use of cutting-edge technologies and an intense internationalisation process over the years.
?These are the pillars upon which we want to build closer and tighter economic and commercial ties with India. Our bilateral trade and investment have been improving enormously over the last few years, but they need to be increased. It is time to give an additional momentum to our relationship,? he noted.
