Spanish cos keen on investing in infra, smart cities in India

Many Spanish companies are keen on collaborating with India on infrastructure, high speed trains, renewable energy and developing smart cities, visiting Minister Jaime Garcia Legaz said today.
On investments targets in India, Legaz, who is Spain's Minister of State for Commerce, said it all depends on economic and infrastructure development policies of India.
To a specific question whether government-owned Spanish company Navantia is expected to bid for submarine projects in India, he said the firm has a strategic alliance with a local partner here and its aim is to develop products.
"I believe there is a good ground for cooperation since Spain would be able to provide technology and then work together with its local partner to develop all these products and goods in India."

He added that Navantia has a modern technology which can be used to manufacture ships in India.
Spanish infrastructure development companies could also bid for highway projects in the coming years and also share technology with Indian companies, the Minister said.

In the railways sector, he said Spain has one of the largest networks of high speed trains and it can help India in developing the same.
"We are very strong in infrastructure, highways, sea ports and renewable energy (RE). We have a common interest in RE," he said.
Spain has developed Barcelona as one of the best smart cities in the world and its companies "would be delighted to collaborate with government of India to extend its experience of Barcelona in India".

India is planning to develop 100 smart cities.
He said he would be meeting the minister and officials concerned with the smart city project tomorrow.
The European Union member is also keen on increasing cooperation in pharmaceutical and agro-processing sectors.
"India has problems related with cold chains and other logistics. Fourty per cent of agri-produce is lost due to absence of appropriate logistics. We have agreed to increase cooperation in this sector," he said.
When asked about investments targets in India, he said that it all depends on economic and infrastructure development policies of India.
"Our companies are very enthusiastic about the new administration in India. They are keen to increase cooperation in infrastructure, high speed trains, airports and sea ports," he said.

In most of the sectors, Spanish firms are looking to invest in India and those investments projects are "not related to trade," Legaz said, adding the bilateral trade figure at present is low.
The two-way commerce stood at USD 4.72 billion in 2013-14.
"We need to remove obstacles and non-trade barriers in order to boost trade," he added.
India has received only USD 1.99 billion FDI during April 2000 and November 2014.
Referring to his meeting with Commerce Secretary Rajeev Kher, he said both the sides are expected to constitute a CEOs' forum which will strengthen businesses, trade and investment ties between the two nations.