Speaking at a breakfast event organised by the Spain India Council Foundation, Antonio Fernández-Martos explained the objective of the Integral Plans rolled out by the Secretariat of State for Trade. “With these kinds of initiatives, we seek to focus our financial, promotional and institutional resources on priority markets,” he said. In order to justify Spain’s commitment to India, he highlighted some key facts: “Firstly, it is the second most populated country in the world, with 1.2 billion people. In addition, its population is young, with 65% between the ages of 15 and 59.” He also emphasised that “India has a major political and economic presence abroad, on international forums. And we must not forget that its growth forecast for 2014-2017 is expected to be over 6%.” Faced with this situation, the Secretariat of State for Trade “must find market niches in which to invest. One such opportunity is the infrastructure deficit in India, a sector in which the country plans to invest a trillion dollars in line with its 12th Five-Year Plan. Half of this amount will be contributed by the private sector.”
The Director General for International Trade and Investment also explained exactly what the Government of Spain is pursuing with such initiatives, namely to “improve our market share, which is currently stable at 0.45%, increase the presence of Spanish companies in India, especially in states like Karnataka, Tamil Nadu and Andhra Pradesh, which offer many opportunities, and support entrepreneurial projects in the Indian market.”
Regarding the sectors offering investment opportunities, Fernández-Martos highlighted the automotive industry, “where there is a strong Spanish presence through companies like Gestamp, Antolín and Mondragón, and many possibilities in the Pune area.” He also mentioned urban development, infrastructure – which will receive significant investments thanks to the aforementioned 12th Five-Year Plan – and renewable energies as strategic sectors: “In 10 years’ time, 22% of electric power will come from renewable sources.” “In all those sectors, Spanish companies, and more specifically those present here today, are well-positioned to succeed in the Indian market,” he claimed.
The event continued with a presentation of the course of action required to achieve the goals set. Among other things, Antonio Fernández-Martos said it was crucial “to have a greater institutional presence to give continuity to the efforts that went into His Majesty the King Juan Carlos I’s visit and the visit to Spain in 2014 by India’s Commerce Secretary.” He also said that there could be visits to India in the pipeline for the Ministers of Defence and Public Works at some point.
To conclude, Fernández-Martos said the Government “intends to back the negotiations for the Free-Trade Agreement between India and the European Union to ensure further progress, given that it was on the right track before the change of government; carry out initiatives to promote agri-food products, consumer goods, services, industrial and tech products through campaigns and trade shows, and offer financial aid to back investments in business projects in the two countries, such as the FIEX and FONPYME lines from COFIDES, which totalled 33.1 million euros in 2013.”
More images in the Gallery
India. Integral Development Plan for the Indian Market - 2014 Strategy. Secretary of State for Trade
Cesce in India. Document drafted by Ricardo Santamaría, Head of Country Risk and Debt Management at Cesce
