India and Spain will hold talks in New Delhi today to deepen bilateral relations and further strengthen the existing mutual economic and trade activities. The two countries are also expected to sign key agreements for increased bilateral cooperation in areas of mutual need and expertise.
The visiting King of Spain, Juan Carlos 1 accompanied by a high level ministerial and business delegation, will hold talks with Prime Minister Manmohan Singh at the Hyderabad House this morning.
Mutually beneficial opportunities for investments by Spanish companies in India and Vice versa, exist in a number of sectors such as infrastructure, transport, energy, defence, IT and tourism. The Royal family of Spain shares a strong and abiding interest in India.
AIR correspondent reports, the visit of His Majesty is expected to carry forward the process of high-level interaction and deepen the relations between the two countries. India and Spain are exploring possibilities to share their experience and expertise in various fields to benefit the people of both countries .
Earlier in the day, President Pranab Mukherjee will accord a ceremonial reception to the visiting dignitary at the forecourts of Rashtrapati Bhavan. The King of Spain, who is on a four day State visit to India will also visit Rajghat to pay tributes at the Samadhi of Mahatma Gandhi.
During his State visit the visiting dignitary will also hold talks with President Pranab Mukherjee, Vice President Hamid Ansari, UPA Chairperson Sonia Gandhi, External Affairs Minister S.M Krishna, Leader of the opposition in Lok Sabha Sushma Swaraj.
President Pranab Mukherjee will also host a banquet in the honour of the visiting dignitary before His excellancy’s departure for Spain. His Majesty King Juan Carlos I of Spain reached New Delhi on Thursday night after having arrived in Mumbai day on Wednesday.
AIR correspondent reports, India-Spain bilateral trade last year was nearly US $ 5 billion, indicating a growth of almost 18% over the previous year. Spanish investment in India is over US $ 1.15 billion while India’s total investment in Spain is valued around Euro 605 million.
Spain is also among the most indebted countries in the Europe facing economic turbulence due to the Eurozone crisis.
