The CII Spain-India Business Summit took place in Mumbai during the visit of H.E. Pedro Sánchez, President of the Government of Spain. This marks President Sánchez’s first trip to India and the first by a Spanish president in 18 years.
In his address, President Sánchez emphasized the potential for strengthening the relationship between India and the European Union, including Spain. He pointed out that Spain is one of the largest economies in the world, having invested USD 4.2 billion in India this century. He expressed optimism about advancing negotiations on a European Union-India free trade agreement to enhance market size and diversity.
President Sánchez also highlighted Spain’s expertise in clean energy, offering support to India in its goal of achieving 500 gigawatts of renewable energy by 2030. He noted that Spanish innovation could contribute significantly to improving India’s energy security and facilitating its green transition.
He recognized India’s progress in infrastructure and stated that Spain’s transport systems could play a role in enhancing India’s infrastructure projects. President Sánchez noted that Spanish engineering firms are eager to share their expertise in developing sustainable transport solutions and collaborating on digitization initiatives.
Shri Nitin Jairam Gadkari, Minister of Road Transport and Highways of India, referred to the Indian government’s target of achieving carbon neutrality by 2070. He highlighted the significance of green energy and mobility and noted the potential for joint ventures with Spain to lower costs and improve competitiveness.
Chandrajit Banerjee, Director General of the Confederation of Indian Industry (CII), commented on Spain’s experience in urban infrastructure and transport systems. He expressed interest in establishing partnerships for infrastructure development and discussed collaboration opportunities in areas such as artificial intelligence, defense, and green technologies. He also affirmed the commitment of both countries to pursue joint ventures in defense to strengthen capabilities and strategic autonomy.
R Mukundan, Vice President of CII and Managing Director and CEO of Tata Chemical Limited, underscored the importance of knowledge and technology transfer when working with Spanish brands. He pointed out the growth potential in the Indian market, noting that India adds 10-20 million new customers annually.
S N Subrahmanyan, Chairman and Managing Director of Larsen & Toubro Ltd, remarked on the willingness of Spanish companies to share core technology, which is important for India’s goal of self-reliance. He noted that this level of collaboration is not always found with other international partners.
