Spain expects strong growth in bilateral trade with India over coming years

The Ambassador of Spain to India, Jose R Baranano Friday said he expected his country's bilateral trade with India would increase on an average of 20 percent every year over the next five years.

The bilateral trade between both the countries is around six billion USD presently, he said adding language and distance have been two of the biggest hinderances in regard to the growth of trade ties. Baranano said there is a lot of potential in tourism, education, renewable energy, and agriculture sector.

"The economic condition across the globe is a bit messy but we hope that over the next five years the trade ties between the two countries would increase on an average of 20 percent every year," he told reporters. The ambassador said, "The world market is swiftly shifting from Europe to India, China, and other Asian countries".