Spanish companies arrived in India after the economic liberalization reforms of 1991. Since then, and with considerable progression in the last 15 years, more than 200 Spanish companies are present in India, proving that Spanish companies are key technological partners for updating the Indian value chain, and its products are recognized and valued by the local market. The establishment of Indian companies in Spain has become more dynamic with the turn of the century, although it is still well below the capacity to attract foreign direct investment that Spain has in the global context and the opportunities the country offers for those international companies seeking a better access to the European market and strategic control of operations in the Latin American market. The Spanish and Indian companies have great corporate similarities, complementarities in the value chain and strategic synergies, which become a promising foundation for greater and fruitful collaboration. This bilateral business ecosystem, still under construction, has achieved a fundamental milestone with the creation of the Indo-Spanish Chamber of Commerce in 2016.
In this working document we analyze the positioning, image and challenges of Spanish companies in India, as well as the positioning and synergies of Indian companies in Spain; the impact of the COVID-19 pandemic and the bilateral economic situation on Spanish and Indian companies; the corporate similarities between Indian and Spanish SMEs and family businesses; the complementarities of the bilateral industrial fabric in the value chain; and the new frontier of entrepreneurship in the digital era.