India and Spain Chart Ambitious Economic Partnership

Union Minister Piyush Goyal met Spain's Industry and Tourism Minister Jordi Hereu to discuss deepening economic collaboration. The talks focused on enhancing trade, investment, and innovation. Goyal emphasized that current goals were not ambitious enough, proposing a roadmap to increase bilateral trade seven-fold over the next decade.

The Indian Union Minister for Commerce and Industry, Piyush Goyal, recently engaged in discussions with Jordi Hereu, Spain's Minister of Industry and Tourism, in a bid to fortify cooperation between the two countries across various economic arenas. The bilateral meeting highlighted opportunities to bolster partnerships in trade, investment, manufacturing, and tourism, alongside other sectors poised for future growth.

'We had productive discussions with Mr. Jordi Hereu, exploring new avenues to strengthen India-Spain collaboration,' Goyal noted, adding that their dialogue also touched on the India-EU Free Trade Agreement. The ministers affirmed their dedication to fostering industrial partnerships, enhancing supply chain resilience, and broadening economic cooperation to benefit both nations.

Goyal expressed dissatisfaction with the modest target of doubling bilateral trade every three years, suggesting instead a more ambitious vision of a seven-fold increase over the next decade. At the India-Spain Business Forum, he welcomed Spain's Economy Minister Carlos Cuerpo's proposal to create a joint roadmap for economic cooperation. Goyal highlighted the untapped potential for expanded trade and investment, underscoring India and Spain's status as vibrant democracies with a commitment to global trade rules.