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Modi invites Spanish industry to invest in India

Author: IANS/Thursday, June 1, 2017/Categories: Global

Modi invites Spanish industry to invest in India

Madrid, (IANS) In a bid to boost India-Spain business and investment ties, Prime Minister Narendra Modi interacted with CEOs of leading Spanish companies here on Wednesday, inviting them to invest in India and benefit from the immense potential that awaits them in the country.

"Met top CEOs of the Spanish industry and urged them to explore the economic opportunities in India," Modi tweeted.

He told the CEOs of the reforms being undertaken such as GST, and said that initiatives like Make in India, Digital India and Start up India are attracting much foreign interest.

"PM @narendramodi interacts with CEOs of leading Spanish companies with global footprint," External Affairs Ministry spokesperson Gopal Baglay tweeted.

"He invited them to look anew at a new India emerging with government's push for economic growth," he said in another tweet.

There are around 200 Spanish companies in India and they are keen to invest and expand their presence in India.

Earlier on Wednesday, addressing the media ahead of holding talks with his Spanish counterpart Mariano Rajoy, Modi said Spain has made rapid strides in its economy while his government's top priority too was India's economic growth and development.

He said Spain can offer its expertise to India's development priorities like railways, smart cities and infrastructure.

Economic partnership is an important pillar of India's engagement with Spain and Spanish companies have a reputation in fields like renewable energy, high speed rail, infrastructure, tunnelling, technology solution including civil aviation, air space management and waste water management.

Modi arrived here from Germany on Tuesday on the second leg of his six-day, four-nation tour of Europe that will also take him to Russia and France.

This is the first visit by an Indian Prime Minister to Spain in nearly 30 years since Rajiv Gandhi paid a trip in 1988.

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S Vijaykrishnan
S Vijaykrishnan

IANS

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