The Ambassador of Spain to India, Gustavo de Arístegui, participated in the seminar organised by the Spain India Council Foundation in Zaragoza. During his address, he gave a detailed analysis of the opportunities currently offered by India to Spanish companies in different sectors.
Arístegui began by emphasising India’s growth expectations with a domestic market of over 1.3 billion people and a very young population with an average age of 25. In his opinion, “India is not an emerging market, it’s an emerged one”, and one which presents opportunities for Spanish companies precisely in those sectors in which our country plays an important role on an international level. He also highlighted a range of industries in which Spain can work closely with India: infrastructure, water, waste management, tourism, education, healthcare, energy, communications, defence and agribusiness.
The Ambassador also mentioned some basic aspects for companies seeking to expand into India to bear in mind: “It is vital to choose a good local partner and have a presence on the ground,” he pointed out, “because personal contact is crucial there.” According to Arístegui, “when you invest in India, you must do so to stay, not just to try your luck.”
In relation to infrastructure, he analysed the investments being made in public works in India, as well as in urban development. “Spain is a leader in this sector and this is a market in which there are opportunities for railway transport and rolling stock, and the construction of airports, motorways, bridges and anything else to help keep a country with a middle class of over 450 million people moving.”
As for energy, the Ambassador stated that Spanish expertise in the sector could be very useful to India, where some Spanish companies already operate. “India is one of the few countries in the world with a specific ministry for energy,” he said, “given its substantial energy dependence.”
Artístegui also mentioned the opportunities offered by tourism. Right now, India only receives 7 million tourists a year, but it has a massive cultural and historical heritage. “Spanish companies can offer their expertise in tourism and cultural management to attract more tourists between the two countries,” he said. According to Embassy data, around 250,000 Spanish people visit India every year.
Gustavo de Artístegui finished his address by offering the Embassy’s advisory services to Spanish companies seeking to expand into India, as well as those of the two commercial offices Spain has in the local market.
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