{"id":31587,"date":"2024-10-30T18:05:45","date_gmt":"2024-10-30T12:35:45","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=31587"},"modified":"2024-10-30T18:05:47","modified_gmt":"2024-10-30T12:35:47","slug":"india-spain-bilateral-relations","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/30-10-2024\/india-spain-bilateral-relations","title":{"rendered":"India &#8211; Spain Bilateral Relations"},"content":{"rendered":"\n<p><strong>Syllabus: GS2\/IR<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Spanish Prime Minister paid a State Visit to India.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PM Sanchez and Prime Minister Modi jointly inaugurated the <strong>Final Assembly Line Plant of C-295 aircraft<\/strong> co-produced by Airbus Spain and Tata Advanced Systems Ltd. at Vadodara.\n<ul class=\"wp-block-list\">\n<li>This plant will roll out the <strong>first \u2018Made in India\u2019 C295 aircraft in 2026<\/strong>, out of a total of 40 aircrafts to be manufactured in India.\u00a0<\/li>\n\n\n\n<li>Airbus Spain is also delivering 16 aircrafts in \u2018fly-away\u2019 condition to India, out of which 6 have already been delivered to the Indian Air Force.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>India and Spain signed several memorandums of understanding (MOUs) during the bilateral meeting.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Overview of India-Spain Bilateral Relations<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Diplomatic relations <\/strong>between India and Spain were established in <strong>1956.<\/strong>\n<ul class=\"wp-block-list\">\n<li>Since then, both countries have engaged in high-level visits and discussions to strengthen their political ties.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Economic Relations:<\/strong> Spain is India\u2019s 6th largest trade partner in Europe. Bilateral trade reached US$ 9.9 billion in 2023. India\u00b4s exports stood at US$ 7.17 billion while imports stood at US$ 2.74 billion during the same period.\n<ul class=\"wp-block-list\">\n<li><strong>India-Spain Joint Commission on Economic Cooperation (JCEC)<\/strong> was set up under the 1972 Trade and Economic Cooperation Agreement and has since met twelve times.<\/li>\n\n\n\n<li><strong>Investment: <\/strong>Spain ranks as the 16th largest foreign investor in India, with cumulative FDI totaling US$3.94 billion as of December 2023.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Defence: <\/strong>Spain has emerged as a prominent member in Defence diversification and modernization for India.\n<ul class=\"wp-block-list\">\n<li>The procurement of 56 C295 aircraft from Airbus Spain represents the <strong>first Make in India<\/strong> project in the defence aircraft sector.\u00a0<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Tourism<\/strong> in both directions is growing, with 250,000 Indian tourists travelling to Spain every year, and 40,000 Spanish tourists visiting India.\u00a0<\/li>\n\n\n\n<li><strong>The Spain-India Council Foundation <\/strong>(a private non-profit organization that functions in coordination with the Spanish Ministry of Foreign Affairs) organized the 3rd Spain-India Forum in 2023, in collaboration with Observer Research Foundation (ORF).\n<ul class=\"wp-block-list\">\n<li>This Forum serves as a crucial tool for promoting bilateral relations between Spain and India.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Multilateral Cooperation:<\/strong> Both nations collaborate in international forums, including the United Nations, G20 and International Solar Alliance (ISA) addressing global challenges such as climate change, terrorism, and sustainable development.<\/li>\n\n\n\n<li><strong>Diaspora: <\/strong>The Indian diaspora in Spain numbers around 75000, concentrated in Catalonia, Valencia, Madrid and Canary Islands.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India and Spain\u2019s evolving economic and diplomatic relationship holds significant promise, with key areas of cooperation including trade, investment, renewable energy, infrastructure, and defense.\u00a0<\/li>\n\n\n\n<li>Spanish expertise in renewable energy, infrastructure, and environmental technology complements India\u2019s expanding market.\u00a0<\/li>\n\n\n\n<li>Initiatives like \u201cMake in India\u201d and \u201cDigital India\u201d create favorable conditions for further collaboration, encouraging foreign direct investment.<\/li>\n\n\n\n<li>As both countries continue to leverage their mutual strengths, the future of India-Spain bilateral ties looks bright, with enhanced cooperation.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=2068963\" target=\"_blank\" rel=\"noopener\"><strong>PIB<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Spanish Prime Minister paid a State Visit to India.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-31587","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=31587"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31587\/revisions"}],"predecessor-version":[{"id":31588,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31587\/revisions\/31588"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=31587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=31587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=31587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}