KAMAL NATH INVITES INVESTMENTS FROM SPAIN
Date : 19 Sep 2008
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce and Industry, has invited investments from Spain, as the investment climate in India is conducive for business. During the interaction with Mr. Jose Maria Aznan, former Prime Minister of Spain, here last evening, Shri Kamal Nath informed that there are huge potential for investments in the area of food processing industries, ceramics, telecommunications and chemicals.
Both sides noted that the 9th Meeting of the India-Spain Joint Committee would take place in Madrid on a date to be decided mutually. The 8th Meeting was held during November 2005. Presently, India-Spain Joint Working Groups are in the areas of food processing and tourism.
India-Spain bilateral trade during 2007-08 was to the tune of US $ 3279 million (exports - $ 2286 million and imports - $ 993 million) when compared to the figure of US $ 2502 million during 2006-07. India’s exports to Spain is 1.5% of its global exports during 2006-07 and 1.4% in 2007-08
Major items of Indian exports to Spain are: readymade garments, marine products, machinery & instruments, transport equipments, electronic goods etc. while major items of Indian imports from Spain are: iron & steel, organic chemicals, project goods, other commodities.