Narendra Modi Invites Spanish Investments in India

Narendra Modi in a group photograph with the Spanish CEOs, in Madrid, Spain on May 31, 2017
Narendra Modi in a group photograph with the Spanish CEOs, in Madrid, Spain on May 31, 2017

The Prime Minister of India, Narendra Modi, held talks on Wednesday with the President of the Spanish Government, Mariano Rajoy, in Madrid.

During his opening remarks, Modi said that today’s talks will go a long way in furthering ties between the two countries.

He said that in an interconnected and interdependent world – Spain and India can work together both for mutual benefit, and for the benefit of the world at large. He described President Rajoy as a visionary leader.

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Modi also said India and Spain have both faced the scourge of terrorism, and will both focus on fighting it. The Prime Minister said that the vision of “New India” will be enhanced through the “New Momentum” in relations between India and Spain.

Seven agreements were exchanged between the two countries, covering areas such as energy, security, and civil aviation.

Prime Minister Modi later met with Spanish CEOs. He said during the meeting that there is immense potential for further growth of Spanish investments in India.

He mentioned in particular, sectors such as infrastructure, renewable energy, food processing, auto, chemicals and textiles. He invited Spanish participation in the Smart Cities initiative.

He also gave a broad overview of the economic reforms undertaken in India, including GST. He asserted that initiatives like Make in India, Digital India, and Start up India have become global magnets for investment.

Photo courtesy: Press Information Bureau

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Rakesh Raman