INDIA: As Madrid seeks to increase investment in the world’s fifth-largest economy, Spanish Prime Minister Pedro Sanchez and his Indian counterpart Narendra Modi were greeted on Monday with a flower-filled open-top parade.
On their way to Vadodara, in the state of Gujarat, to inaugurate a military aircraft factory that was the result of a collaboration between Tata Advanced Systems and Airbus, the duo waved to the crowds from a vehicle that was covered in orange marigold garlands.
After 18 years, this is the premier of Spain’s first trip to India.
In the year 2021, 56 cargo- and troop-carrying C295 aircraft from Airbus Defence and Space were purchased by India’s defense ministry for $2.5 billion.
The first deliveries of 16 of the remaining 40 will be made in India, while the remaining 40 will be assembled in Seville, Spain.
The Indian plant in Vadodara will finish the first “Made in India” C295 airplane in 2026.
At the inauguration, Modi stated, “This factory will not only strengthen India-Spain relations but also the “Make in India and Made for the World” mission.”
“It also strengthens India’s position as a reliable partner in aerospace manufacturing around the world.”
Sanchez stated that Airbus had begun a new era in the Indian space and defense industry.
In English, he stated, “This project strengthens our industrial ties while underlying our country’s deep commitment as a reliable and strategic partner.”
“It also shows the capabilities of the Spanish defense industry,” the statement reads.
“Robust and growing” India claims that trade between the two countries will reach $9.9 billion in 2023, with India exporting $7.17 billion and importing $2.74 billion.
With over 280 Spanish businesses in India, Spain is the 16th largest foreign investor. It sees opportunities in the construction, energy, pharmacy, and railways industries.
During the visit, representatives of Spain’s state shipbuilding company Navantia are looking for potential contracts, including for submarines.
Modi went to Spain in 2017 and spoke with Sanchez at the G20 summits in 2018 and 2021. However, this is the first time a Spanish premier has been to India in nearly two decades.
Sanchez, who went to China last month, wants to build relationships with both Beijing and New Delhi in Asia.
On Tuesday, the leader of Spain is supposed to go to Mumbai, India’s financial center, where he will meet with business leaders and go to a Bollywood film studio to try to get deals with Spanish companies.
