04 ene 2019
India

CEOE JOINS THE MINISTER OF FOREIGN AFFAIRS, THE EU AND COOPERATION, JOSEP BORRELL, ON HIS TRIP TO INDIA

The Director General of CEOE’s International Department, Narciso Casado, will meet with representatives of CII (the Indian employer’s association) to analyse future joint activities.

The Director General of CEOE’s International Department and of the Cabinet of the President, Narciso Casado, will travel to India from Jan 7 to Jan 10 together with the Minister of Foreign Affairs, the European Union and Cooperation, Josep Borrell, where they will meet with Spanish companies established in the country. They will also hold meetings with representatives of the Indian government, as well as with foreign ministers of other countries that are expected to participate in the Raisina Dialogue, which will take place in New Delhi on January 8 to 10. Casado will also take advantage of the visit to meet with representatives of our counterpart organization in the Asian country, the Indian Confederation of Industries (CII), in order to analyse future activities that both organizations are planning to jointly undertake during 2019.

Taj Mahal, India
Taj Mahal, India

Background

Among the various business trips that CEOE has made to India, it is worth pointing out the one attended by the vice president of the Confederation, Joaquim Gay de Montellá, together with Narciso Casado and accompanying the Secretary of State for Trade, Jaime García-Legaz, in February 2015, and the one made by the vice president, José Vicente González, together with Casado, within the framework of the official visit by the Minister of Foreign Affairs, José Manuel García-Margallo, in April of that same year.

In addition, Spain’s Chamber of Commerce, in collaboration with the Spanish Secretary of State for Trade, the Spanish Confederation of Business Organizations (CEOE) and the Federation of Indian Chambers of Commerce (FICCI) held a Spain-India Business Forum on June 24 in Madrid, to analyse the opportunities for Spanish companies in that country. Likewise, the Forum of Spain-India’s CEOs was held on May 31, 2017, in Madrid, with the aim of boosting the economic and investment relations between both countries, in conjunction with the visit from the Indian Prime Minister, Narendra Modi. Finally, in April of this year, CEOE and ICEX - Invest in Spain organized, in collaboration with the Embassy of India to Spain, a Spain-India Business Meeting, on the occasion of the visit to Spain of an important multi-industry business delegation from the Bombay region.

 

Bilateral relations

With regard to investments, the direct investment stock of Spain in India in 2016 was set at €3.275 billion, an 400% increase in comparison to 2015, due to an increase in investments in the chemical industry, specifically in the manufacture of cleaning supplies, perfumes and cosmetics. The investment stock of India in Spain in 2016 was €212 million, which was mainly concentrated in storage and other activities related to transport (34%), the manufacture of pharmaceutical products (24%), the chemical industry (17%) and the manufacture of motor vehicles and trailers (17%).

There are currently more than 250 Spanish companies in India in sectors such as consulting, energy, engineering and construction, while in 2008 this number was set at only 60. It is worth highlighting eight sectors of interest for Spanish companies in the country, namely infrastructure, railways, energy, food processing, machinery, water management, information technologies and the pharmaceutical sector.