**Executive Summary**
Union Minister Shri Piyush Goyal commenced a high-level visit to Spain on July 13, 2026, to deepen bilateral economic partnerships across trade, investment, and innovation. The visit coincides with the 70th anniversary of diplomatic relations and the "India-Spain Dual Year of Culture, Tourism and Artificial Intelligence 2026." Key outcomes include a commitment to utilize the Fast Track Mechanism for investments and the scheduled convening of the India-Spain Joint Commission on Economic Cooperation later this year.
**Key Points / Main Content**
* **Bilateral Economic Cooperation**
* Discussions with Spain’s First Vice-President focused on strengthening trade relations, improving market access, and building resilient supply chains.
* Both nations emphasized the importance of the India-EU Free Trade Agreement to deepen commercial engagement.
* The "Fast Track Mechanism" will be fully utilized to facilitate new investments and bolster business confidence.
* **Industrial and Technology Partnership**
* Meetings with the Spanish Ministry of Industry and Tourism centered on sustainable manufacturing, clean energy, mobility, and advanced manufacturing.
* The C-295 programme was highlighted as the flagship initiative for industrial collaboration under the "Make in India" framework.
* Specific focus was placed on collaboration in automotive, railways, smart infrastructure, and digital technologies.
* **Sector-Specific Opportunities**
* Priority sectors for future collaboration include green hydrogen, renewable energy, infrastructure, and the digital economy.
* Artificial Intelligence and Tourism were identified as shared priorities, particularly under the 2026 Dual Year commemorative framework.
* **Business Engagement and Investment Promotion**
* The India-Spain Business Forum, involving FICCI, CII, CEOE, and ICEX, was held to explore new commercial partnerships and investment avenues.
* Spanish enterprises were invited to participate in India's growth story, specifically in the manufacturing and infrastructure sectors.
* Engagement with ICEX Spain focused on measures to strengthen bilateral investment flows and facilitate business linkages.
**Impact Analysis**
**Spanish Companies and Investors**
**Impact**
Spanish firms have been presented with expanded opportunities to enter the Indian market, particularly in high-growth sectors like renewable energy and digital technology.
**Action Required**
Explore investment opportunities in India’s infrastructure and manufacturing sectors and utilize the Fast Track Mechanism for smoother entry.
**Indian Business Delegation (FICCI/CII)**
**Impact**
Indian industry leaders have identified new avenues for strategic alliances and technology partnerships with Spanish counterparts.
**Action Required**
Follow up on identified commercial leads and engage in the upcoming sessions of the India-Spain Joint Commission on Economic Cooperation.
**Government Entities (India and Spain)**
**Impact**
Both governments have reaffirmed their strategic commitment to 70 years of diplomatic ties through formalized economic and cultural frameworks.
**Action Required**
The respective departments must prepare for the next session of the Joint Commission on Economic Cooperation and manage the activities for the 2026 Dual Year of Culture, Tourism, and AI.
Key Entities Referenced
India-EU Free Trade Agreement: A key bilateral trade agreement discussed to expand commercial engagement and market access between India and Spain.
Make in India: A flagship initiative under which industrial and manufacturing collaborations, such as the C-295 programme, are being implemented.
India-Spain Joint Commission on Economic Cooperation: A bilateral body responsible for strengthening trade relations and enhancing business confidence through official sessions.
Fast Track Mechanism: An agreed-upon framework to facilitate new investments and streamline bilateral commercial partnerships.
India-Spain Year of Culture, Tourism and Artificial Intelligence 2026: A commemorative policy initiative celebrating 70 years of diplomatic relations and prioritizing cooperation in high-tech and tourism sectors.
Ministry of Commerce & Industry
Union Minister of Commerce and Industry Shri
Piyush Goyal Begins Spain Visit with High-Level
Engagements to Deepen India–Spain Economic
Partnership
Shri Piyush Goyal, Spain's First Vice-President Discuss
Expanding Trade, Investment and Innovation Cooperation
Shri Piyush Goyal Holds Talks with Spain's Industry Minister
to Advance Manufacturing and Innovation Partnership
India–Spain Business Forum Explores New Opportunities for
Bilateral Trade, Investment and Industry Collaboration
प्रव तथ: 14 JUL 2026 10:48AM by PIB Delhi
Union Minister of Commerce and Industry, Shri Piyush Goyal, commenced the Spain leg of his official
visit on 13 July 2026 with a series of high-level engagements aimed at deepening the India-Spain
economic partnership and expanding cooperation in trade, investment, innovation and industry. The visit
underscores the shared commitment of both countries to strengthen bilateral economic ties and explore
new avenues of collaboration across priority sectors. The visit assumes particular significance as the two
countries commemorate 70 years of diplomatic relations and celebrate the India-Spain Dual Year of
Culture, Tourism and Artificial Intelligence 2026.
During the day, the Minister held high-level bilateral meetings with senior members of the Government of
Spain, engaged with business leaders and investment promotion agencies, addressed the India-Spain
Business Forum and interacted with members of the Indian business delegation to advance economic
cooperation, facilitate greater industry partnerships and showcase India's growing opportunities for global
investors.
Shri Goyal held a bilateral meeting with H.E. Mr. Carlos Cuerpo Caballero, First Vice-President of the
Government of Spain and Minister of Economy, Trade and Business. The two leaders discussed ways to
strengthen bilateral trade and investment relations, enhance business cooperation, promote innovation-led
growth and identify new areas for economic collaboration. The discussions focused on improving market
access, building resilient supply chains and expanding commercial partnerships between the two
countries, with particular emphasis on renewable energy, green hydrogen, advanced manufacturing, digital
technologies, infrastructure and innovation. They also exchanged views on the India-EU Free Trade
Agreement and explored ways to deepen business ties and expand India's commercial engagement withSpain. Both sides agreed to make full use of the Fast Track Mechanism to facilitate new investments and
strengthen business confidence, and looked forward to convening the next session of the India-Spain Joint
Commission on Economic Cooperation later this year.
The Minister also met H.E. Mr. Jordi Hereu Boher, Minister of Industry and Tourism of Spain. The
discussions centred on enhancing industrial cooperation, promoting sustainable manufacturing, supporting
technology partnerships and fostering collaboration in sectors such as clean energy, mobility, advanced
manufacturing and tourism. Both sides also discussed expanding cooperation in automotive, railways and
smart infrastructure. They welcomed the C-295 programme as a flagship example of industrial
collaboration under the "Make in India" initiative. The two Ministers underlined tourism as a shared
priority, with 2026 marking the India-Spain Year of Culture, Tourism and Artificial Intelligence, reflecting
a partnership that continues to draw the economies and peoples of the two countries closer together. Both
sides reaffirmed their commitment to strengthening industry-to-industry engagement.
A key highlight of the visit was the India-Spain Business Forum, jointly organised by the Federation of
Indian Chambers of Commerce and Industry (FICCI), the Chamber of Commerce of Spain, the Spanish
Confederation of Business Organizations (CEOE) and ICEX Spain Trade and Investment. The Forum
brought together senior government officials, industry leaders and business representatives from both
countries to explore new avenues of economic cooperation.
The Forum commenced with welcome remarks by Ms. Inmaculada Riera, CEO of the Chamber of
Commerce of Spain; Ms. Marta Blanco, President of the International Relations Committee of CEOE; Mr.
Anant Goenka, President of FICCI; Mr. R. Mukundan, President of the Confederation of Indian Industry
(CII); and H.E. Mr. Jayant N. Khobragade, Ambassador of India to Spain and Andorra.
The keynote session featured addresses by Mr. Jordi García Brustenga, Secretary of State for Industry,
Government of Spain, and Shri Piyush Goyal. During his address and interactions with leading Spanish
industry representatives and business leaders, Shri Goyal highlighted India's emergence as the world's
fastest-growing major economy, its strong economic growth, progressive reforms and vast investment
opportunities. He invited Spanish companies to expand their presence in India and actively participate in
the country's growth story across sectors including manufacturing, infrastructure, renewable energy,
advanced manufacturing, digital technologies, digital economy and innovation.
The keynote addresses were followed by an interactive question-and-answer session and a networking
reception, providing business leaders from both countries an opportunity to exchange views on expanding
commercial partnerships and investment opportunities.
Shri Goyal also engaged with senior officials of ICEX España Exportación e Inversiones, Spain's trade
and investment promotion agency, to discuss measures for strengthening bilateral investment flows,
facilitating business linkages and encouraging greater participation of Spanish enterprises in India's
growth story. The discussions focused on promoting investment partnerships, technology collaboration
and supporting businesses from both countries.
At the conclusion of the day's programme, Shri Goyal interacted with members of the Indian business
delegation led by FICCI. During the debriefing session, he exchanged views with industry leaders on the
opportunities identified during the visit and encouraged greater Indian investment and business
partnerships with Spain in the years ahead.
The visit reaffirmed the shared commitment of India and Spain to further deepen their strategic economic
partnership through enhanced trade, investment, industrial collaboration, innovation and people-to-people
exchanges. Building on the strong political understanding between the two countries, both sides expressed
confidence that the outcomes of the visit would contribute to expanding bilateral economic cooperation
and creating new opportunities for businesses and investors.***
Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas
(रलीज़ आईडी: 2284360) आगंतुक पटल : 1110
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