Trade Agreement Between India And Spain

The Elcano Royal Institute focuses on both specific themes and geographical areas. These include the Asia-Pacific region, and in recent years the Institute has developed various analyses and working papers on bilateral relations between India and Spain.2 The document concludes with a summary of its recommendations aimed at consolidating enhanced cooperation between India and Spain. This is largely an area that is still little studied and has high potential at the political, economic, social and cultural levels, and the authors expect to contribute to it. The Minister of Commerce led the Indian delegation to the 11th round of the India Spain JCEC, which was held in Madrid in January 2018. As part of the JCEC, the Forum of CEOS of India Spain was established in February 2015. The first formal meeting of the CEO Forum took place in Madrid in May 2017. The Global Innovation & Technology Alliance (GITA) has launched, in collaboration with the Spanish Center for the Development of Industrial Technology (CDTI), the Indo-Spanish Cooperation Program in Industrial Research and Development, a bilateral framework for financial support for R&D cooperation between Indian and Spanish industry and science. Although the paper focuses on bilateral relations between India and Spain, the authors understand that there are important avenues for cooperation on common interests and joint action within international organizations. In this respect, the role of the EU, analysed in a specific chapter on the impact of EU-India relations on bilateral relations, is particularly important. This working paper is a joint project of the Spanish Elcano Royal Institute and the Indian Observer Research Foundation, as part of the commemoration of 60 years of diplomatic relations between the two countries and Prime Minister Modi`s recent official visit to Madrid. After an introduction focused on the state of bilateral relations, the document analyzes different key dimensions with great potential for future and more relevant cooperation between Spain and India: relations between India and Spain have been hot since the creation of democracy in Spain in 1978. Diplomatic relations between India and Spain were established in 1956 with the opening of the Spanish Embassy in New Delhi.

[1] Maharaja Sawai Man Singh II, the Maharaja of Jaipur, was appointed India`s first ambassador to Spain in 1965. [2] India Spain Bilateral cooperation in the field of sport has been strengthened by the interaction between the sports industry in the two countries and the participation of leading players and teams in events in India and vice versa, especially in the field of football, badminton, hockey and Kabaddi. It is possible to have a separate declaration of intent on cooperation in the field of sport. Recognizing the immense potential for strengthening cooperation in the field of tourism, it was agreed to establish an expert group on tourism during the Prime Minister`s visit. The first group of Indian-Spanish tourism experts took place on 21 May 2018 in Madrid, under the leadership of Shri Suman Billa (JS, M/Tourism) on the Indian side and Manuel Butler (DG, TurespaƱa) on the Spanish side. Spain is India`s 7th largest trading partner in the European Union. Bilateral trade was 5.66 billion $US (Department of Commerce) in 2017-18, a growth of 4.91% compared to a year ago. India`s exports rose 16.65 percent to $3.99 billion, while imports fell 15.51 percent to $1.66 billion.

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