16.11.2017

Narendra Modi and Mariano Rajoy show their support for the second Spain-India Forum

The PMs praised the work of the Spain India Council Foundation as a driving force behind bilateral relations

The Prime Ministers of Spain and India, Mariano Rajoy and Narendra Modi, have highlighted the importance of the Spain India Council Foundation's work to forge and strengthen ties between the two countries. The two leaders made reference to the organisation and the significant role it plays in the Spain-India Joint Statement, released after a visit by the Indian PM to Spain in May. The two Prime Ministers spoke in favour of strengthening bilateral links and acknowledged that most of the growth in the past few years has been thanks to the Spain India Council Foundation.

The Spain-India Forum, organised by the Spain India Council Foundation, has achieved outstanding success in bringing the two countries closer. Narendra Modi and Mariano Rajoy expressed their support for this latest edition of the event, which they described as a "platform to encourage investment, corporate links and contact between the two countries’ societies".

The Spain India Council Foundation has been working since 2009 to identify and leverage the opportunities offered by the Indian market to Spanish companies. The Foundation’s work, which has been highly effective, is a result of the close cooperation between the patron companies and the unwavering backing of the Ministry of Foreign Affairs and Cooperation, for which the network of Council Foundations has become an all-important public diplomacy instrument.

After the global economic downturn, which heavily impacted some of what are known as the emerging countries, India remains well-positioned to be among the nations spearheading global economic and social progress, at least for the first half of this century.

Some analysts believe the country’s economy, which is forecast to grow by 7.6% in 2018, has enough potential to make India the second-largest global power by 2050, by which time it could account for 15% of the world's economy. It boasts a population of over 1.3 billion, a thriving middle class and a government that is committed to improving the country’s ease of doing business index.

These attributes make India a compelling destination for foreign investment, particularly in the energy sector, which is both the focus of this Forum and a field in which Spanish companies are at the cutting edge of technological development and renowned for their excellence in R&D.

Excutive Summary

 

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