India and Spain have agreed to preserve the gains of globalisation and jointly work towards shaping a new global agenda for inclusive growth.

President Pranab Mukherjee said this at a banquet hosted by him to honour the Visiting King of Span Juan Carlos 1 at the Rastrapati Bhavan last evening.

Mr. Mukherjee said, both India and Spain recognise the need to work bilaterally and multilaterally to ensure inclusiveness in economic growth around the world.

Mr. Mukherjee reaffirmed India's determination to provide a conducive Investment environment for the business and industry. He said Spain like India, has also taken a number of steps to overcome the global debt crisis.

Mr. Mukherjee also urged the global community to take concerted action against terrorists and their sponsors to defeat the menace of terrorism.

Earlier in the day, India and Spain signed five pacts in various sectors including agreements to curb black money and prevent tax evasion and also for greater cooperation in Defence matters.

The two countries also agreed to amend the existing protocol on avoidance of double taxation. Agreements were also signed for technical cooperation between the Railways of both countries, Road transport sector and for the joint production of films.

The pacts were signed following delegation level talks between visiting King of Spain Juan Carlos 1 and Prime Minister Dr. Manmohan Singh in New Delhi.