The Hindu Business Line : India woos Spanish investment

Opportunities aplenty: The Minister for Commerce and Industry, Mr Kamal Nath, with the Minister of Industry, Tourism and Trade of Spain, Mr Miguel Sebastian, and Senior Vice-President, FICCI, Mr Harsh Pati Singhania, in the Capital on Thursday.

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New Delhi, Dec.11 There is huge investment potential in India in the next few years in modernisation of highways, railways, power sector, telecommunication and urban infrastructure, India has told Spain.

Addressing the India-Spain Investment and Business Cooperation Forum here on Thursday, the Union Commerce and Industry Minister, Mr Kamal Nath, observed that Spain could probably take advantage of these opportunities as Spain is a big investor globally. The meeting was attended by Mr Miguel Sebastian, Minister of Industry, Tourism and Trade of Spain, and business representatives from the Indian and Spanish side. Mr Nath highlighted that the major sectors that have attracted FDI investment in India include ceramics, telecommunications, metallurgical industries, cement and gypsum products, construction activities, computer software and hardware, automobile industry, etc. A few Indian companies have established their presence in Spain, he said.

Boosting bilateral trade

Mr Nath said “it is our endeavour to continue to provide a stable and conducive investment climate, both for the domestic investor and the foreign investor, and to manage the economy in a manner that facilitates inclusive growth driven by enhanced investment and consumption. Our policy of encouraging both the public sector and the private sector and fostering competition has stood us well. It is only an open economy that will bring gains in efficiency and productivity, reward innovation and enterprise, and ensure inclusive growth.”

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