India-Spain Relations

At the invitation of India’s Prime Minister, President  of Spain Mr. Pedro Sanchez, visited India recently.

Key Highlights of the India-Spain Joint Statement

• Defense Partnership: PM Modi and President Sanchez jointly inaugurated a C-295 aircraft assembly line in Vadodara, Gujarat, promoting India’s “Make in India” initiative.
• Economic and Commercial Cooperation: Both leaders agreed to strengthen ties through initiatives such as a “Fast Track Mechanism” and the ‘India-Spain CEOs Forum’.
• India-Spain Year of Culture, Tourism, and AI (2026): The leaders designated 2026 as a special year to promote cultural exchange, tourism, and collaboration in artificial intelligence.
• Global and Regional Cooperation: The leaders emphasized multilateralism, supporting each other’s UNSC candidatures, and collaborating on climate action and renewable energy. 
• Commitment to EU-India Relations: India and Spain expressed their support for the India-EU Free Trade Agreement and the India-Middle East-Europe Economic Corridor Project (IMEEC).

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India-Spain Relations

• Enhanced Bilateral Relations: President Pedro Sanchez’s visit to India revitalized the India-Spain relationship, strengthening ties in areas such as political, economic, cultural, and security cooperation
• Diplomatic Ties: India and Spain established diplomatic relations in 1956.
• Economic Cooperation: 
  • Largest trading partner: Spain is India’s 6th largest trading partner within the European Union.
  • Trade: Total trade in 2023 was US$ 8.25 billion, marking a 4.2% increase from the previous year.
  • Foreign Direct Investment:India ranks among Spain’s top 30 global investors and top 5 from Asia.
  • India-Spain Joint Commission on Economic Cooperation (JCEC): Established in 1972; has met 12 times, with the latest meeting in April 2023 in New Delhi.
  • India-Spain CEOs Forum: Founded in 2015; the first formal meeting took place in May 2017 in Madrid.
• Strategic Significance
  • Counter-Terrorism: Both countries actively collaborate on counter-terrorism and intelligence sharing, recognizing shared concerns over global terrorism.
  • Defense: Spain supports India’s defense modernization, providing aerospace and naval technology expertise.
• Sustainable Development and Climate Action
  • Commitment  to the Paris Agreement: India and Spain are committed to the Paris Agreement and actively support climate change and sustainable development goals.
  • International Solar Alliance (ISA): Spain’s ISA membership aligns with India’s focus on promoting solar energy and sustainability.
• Multilateral Cooperation
  • United Nations: Joint efforts on global peace, sustainable development, and humanitarian aid.
  • G20: Both countries address global economic challenges, trade reforms, and climate action.
• Indian Diaspora in Spain
  • Population: Approximately 55,000 Indians resided in Spain as of 2023. They Contribute actively to sectors like hospitality, retail, IT, and healthcare.