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Modi Meets Spanish CEOs; Urges Them to Explore Opportunities in India


Updated: May 31, 2017, 11:42 PM IST
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Modi Meets Spanish CEOs; Urges Them to Explore Opportunities in India
In this image provide by Spain's Royal Palace, Spain's King Felipe VI, 3rd from left, poses with Indian Prime Minister Narendra Modi, 4th from left, and delegations from both countries at the Zarzuela Palace in Madrid, Wednesday, May 31, 2017. (AP Photo/Spain's Royal Palace)

Madrid: Prime Minister Narendra Modi on Wednesday met top CEOs of leading Spanish companies and invited them to participate in initiatives like 'Make in India', saying immense potential awaits them in the fast-growing nation.

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

In a roundtable interaction with leading Spanish business leaders, he said that there is immense potential for further growth of Spanish investments in India.

He mentioned sectors such as infrastructure, renewable energy, food processing, auto, chemicals and textiles and invited Spanish participation in the Smart Cities initiative. Modi also gave a broad overview of the economic reforms undertaken in India, including the GST.

He asserted that initiatives like Make in India, Digital India and Start up India have become global magnets for investment.

Prime Minister Narendra Modi interacted with CEOs of leading Spanish companies with global footprint, Ministry of External Affairs 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.

Modi, the first Indian prime minister to visit Spain since 1992, met the European country's top leadership and said India and Spain maintain close and cordial relations and he sees great potential in this collaboration.

Spain is the 12th largest investor in India and the seventh largest trading partner in the EU. There are more than 200 Spanish companies in India that are actively involved in road construction projects, railways, wind power, water desalination, defense and smart cities.

There are more than 40 Indian companies in Spain, in the fields of technology, pharmaceuticals, automotive and energy. Two-way trade totalled USD 5.27 billion in 2016.

After concluding his meeting with the CEOs, Modi left for St Petersburg in Russia where he will hold the 18th India-Russia annual Summit with Russian President Vladimir Putin tomorrow and attend the St Petersburg International Economic Forum on June 2.

The prime minister will be in Paris on June 2 and 3 where he will hold official talks with newly elected French President Emmanuel Macron with a view to further strengthening India-France strategic ties.

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First Published: May 31, 2017, 8:09 PM IST
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