India and Spain signed several Memorandums of Understanding (MoUs) during the bilateral meeting between Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez in Gujarat’s Vadodara city on October 28.

Highlights of the meeting:

• During the bilateral talks held at the Laxmi Vilas Palace, India and Spain signed agreements on cooperation in key sectors like infrastructure, railways as well as culture and tourism. 

• An MoU on rail transport was signed for cooperation in planning, design, development, commissioning and operation of infrastructure, stations, railways facilities and equipment of long distance passenger and freight networks as well as urban and regional railway systems. 

• It was agreed that 2026 will be celebrated as ‘India-Spain Year of Culture, Tourism and AI’. 

• A cultural exchange programme for 2024-28 was also signed to promote bilateral exchanges in music, dance, theatre, literature, museums and festivals.

• An agreement on cooperation and mutual assistance in Customs related matters was signed. It will facilitate exchange of information for prevention, detection, investigation and combating of Customs offences. 

• It has been decided that Spain will open a consulate in Bengaluru.

India-Spain Bilateral Relations

• Relations between India and Spain have been cordial since the establishment of diplomatic relations in 1956. 

• Spain is India’s sixth largest trade partner in Europe. Bilateral trade reached $9.9 billion in 2023. India’s exports stood at $7.17 billion while imports stood at $2.74 billion during the same period. 

• India’s top exports to Spain are mineral fuels, chemical products, iron and steel, textiles, machine and mechanical appliances, seafood, and leather. India’s major imports are mechanical appliances, chemicals, plastic and mineral fuels. 

• Spain is the 16th largest investor in India with cumulative FDI stock of $4.2 billion (April 2000–June 2024).

• There are about 230 Spanish companies in India and nearly 80 Indian companies in Spain.

• Bilateral partnership in defence sector has witnessed rapid growth in recent years. The procurement of 56 C295 aircraft from Airbus Spain in a $2.5 billion contract, 40 of which will be made in India by Tata Advanced Systems, represents the first ‘Make in India’ project in the defence aircraft sector. 

• In 2023, the University of Valladolid and Indian Council for Cultural Relations (ICCR) signed two MoUs on the establishment of a Chair on Hindi Language and on the establishment of a Chair on Indian Studies at the University.

• The Indian diaspora in Spain is around 75,000, concentrated in Catalonia, Valencia, Madrid and Canary Islands.

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