Spain's Minister of Industry, Tourism and Trade, Mr. Miguel Sebastián, announced the imminent creation of the Spain-India Council Foundation during the India-Spain Investment and Business Cooperation Forum held in Delhi on 11-12 December, 2008 and organized by the Spanish Institute of Foreign Trade (ICEX), through the Economic and Commercial Offices in the Embassies of Spain in New Delhi and Bombay.
The main objective of this forum was to facilitate the identification of investment and business cooperation opportunities, as well as potential partners in India. Thus, the forum provided opportunities for direct contact with business people in India interested in establishing strategic alliances with Spanish companies.
In 2007 India was considered the second most attractive country for foreign investment, second only to China. The country is noted for its strong market growth and domestic demand as well as for its human capital, which constitutes one of the youngest labor forces in the world and the second-largest reserve of scientists and engineers.
New Delhi, as the nation's capital and political center, is the first of the twenty-eight states to comply with policies to promote direct foreign investment set by the national government, which has a special interest in transforming Delhi into one of the country's major economic centers. Its metropolitan area and the neighboring states are home to many multinational companies and Special Economic Zones that have set their sights on the exportation of engineering goods, chemicals, software, scientific instruments, leather and automotive goods, not to mention its agricultural potential.
