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Spain now keen to increase business relations with India says Ambassador Baranano

Spain now keen to increase business relations with India says Ambassador Baranano

India Blooms News Service | @indiablooms | 05 Oct 2018, 12:26 pm

Kolkata, Oct 5 (IBNS): The Indian Chamber of Commerce organised an interaction session with the Spanish Ambassador to India, Jose Ramon Baranano, recently in Kolkata, as part of its endeavor to strengthen the relation between the two countries.

Spain had been largely concentrating on Latin American countries to do business. But now it is keen to strengthen bi-lateral trade relations with India, which it considers as a key market.

Spain in the seventh largest trade partner of India in the European Union, one of the speakers said.

Besides the Spanish Ambassador, Dr.Rajeev Singh, Director General, Indian Chamber of Commerce, Vikash Singh, Vice-President, Indian Chamber of Commerce and Sunil Kanoria, Hony. Consul for Spain & Vice-Chairman, Srei Infrastructure Finance Ltd were also present.

The ambassador addressed representatives of various companies from West Bengal.

Said Ambassador Baranano, “India is a huge market, a market of 1.2 billion people, it has a lot of potential but Spain has not been part of it. Spain’s main focus has been its relation with Latin America. Sixty per cent of our bilateral trade is with Latin America."

"The relation between Spain and India has been superficial because we do not have historical ties. My first job as ambassador is to increase the visibility of Spain; from there we can try and establish other ties," he said. "We have many reliable businesses that India can help grow and vice-versa. The purpose of this session is therefore to make businessmen from India aware of the markets of Spain.”

The Ambassador reminded that Spain has been a popular Indian film shooting and wedding destination, which have given a lot of publicity to the country.  He talked about the 2011 Zoya Akhtar film, ‘Zindegi Na Milegi Dobara’ and the effect it had on the business of Spain.

The ambassador encouraged all small and big business to work with local businesses in Spain which would be mutually beneficial for both the countries.

Vikash Singh of Indian Chamber of Commerce said, “Spain is a very strategically located country. It offers immense opportunity for business. Spain in the seventh largest trade partner of India in the European Union. In 2017-2018, total trade between India and Spain stood at 5658.48 USD."

"Indian exports to Spain comprises of organic chemicals, textiles, iron and steel products, automotive products, marine products and leather goods," Singh said. "Indian imports consist of machine and mechanical goods, vehicles, plastic manufacturers, electrical appliances, rubber and rubber products and olive and olive oil. There are many Spanish companies in India. including automotives. This shows that there is a steady business between India and Spain and this session would further help it grow.”

Sunil Kanoria, Honorary Consul of Spain, talked about the cultural similarities between the countries and his experience in Spain as a visitor. He also emphasized on the immense business opportunities in Spain.


(Reporting by Tirna Chatterjee)

Spain now keen to increase business relations with India says Ambassador Baranano

India Blooms News Service
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