Sharma seeks investment from Spanish firms

Seeking investment from top Spanish firms, Commerce and Industry Minister Anand Sharma today said in Madrid that India is one of the most attractive destinations for foreign investors.

Addressing the CEOs of major Spanish companies like Gamesa, Ficosa International, Taurus Group, Navantia, Ros Roca and Abengoa, Sharma said even at the height of the global economic crisis, FDI flows into India did not slacken.

Inflows of foreign direct investment to India stood at about $26 billion in 2009-10, a shade lower than $27.3 billion in the previous fiscal.

"India is connecting with the world in multifarious ways," he said.

Sharma also co-chaired a meeting of the India-Spain Joint Commission for Economic Cooperation with his Spanish counterpart, Miguel Sebastian.

This was the first time that the meeting of the joint commission was held at the ministerial level.

The two ministers exchanged views on the India-EU Free Trade Agreement negotiations, the forthcoming G-20 Summit in Canada and bilateral investment flows and the progress of the multilateral Doha trade talks, a Commerce Ministry statement said here.

Sharma said the presence of a large number of Spanish CEOs of companies representing the automobile, capital goods, energy and infrastructure sectors showed growing interest in India.