The seminar on business opportunities for Spanish SMEs in India was attended by Ambika Sharma, Deputy Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI), one of the country’s top business organisations. During her address, Sharma mentioned all the productive industries in which Spain and India can complement each other, emphasising those linked to consumers, given that India has a population of 1.3 billion people.
Sharma explained FICCI’s mission, which “proposes reforms to the Government to boost economic growth based on the experience of member companies.” She also detailed the work her organisation does in India to attract foreign investment. As an example, she mentioned a recent campaign called ‘Invest India’, which provides a single point of contact for foreign investors to find local partners with which to roll out their business model.
Peter Hansen, Director of Caixabank India, and Biraja Prasad, Minister-Counsellor at the Embassy of India to Spain, also participated in the session. Prasad emphasised some sectors which, in his opinion, could be of particular interest to Spanish SMEs and stated that “there is a lot of room to work together.” He says tourism could be a key market for Spanish players given the country’s expertise in the area: “India has a lot to learn from Spain about tourism. We have fantastic luxury hotels but very few alternatives in lower categories, and Spain can contribute its expertise and knowledge.” Lastly, Prasad underscored India’s legal security for business as the country with “the world’s largest democracy.”
Roundtable ‘Case studies: Spanish SMEs in India’
Several Spanish companies shared their experiences in India at a roundtable. They all agreed that perseverance and a trusted local partner are crucial to invest in India. According to Alan D’Silva, partner at PwC, “operating in India is growing with India, not just in India.”
Mario Aníbal, VP Energy at Isolux, which started operating in the country years ago, talked about his company’s experience: “The initial frustration must be overcome, perseverance is the key to success.” In his own words, “you cannot seek immediate results; you need a local partner to walk you through the whole process and the timings.”
Robert Maurel, Business Director of Miju, also detailed his company’s experience in India, explaining that “Asia is the key market now, and we must get on board even if it takes time for projects to take off.” Lastly, Rafael Ibáñez, Co-owner of Ingemetal, explained the initial difficulties met by the company “due to the complexity of the tax and financial systems and business negotiations.” He also pointed out the need to “pass on part of your know-how” to the local partner.
More images in the Gallery
Watch videos of this seminar in our Youtube channel
