India’s Commerce and Industry Minister, Piyush Goyal, emphasized the need for India and Spain to enhance their bilateral trade and investments significantly over the next decade. He highlighted key areas for collaboration such as advanced manufacturing, mobility, railways, sustainability, innovation, arts, science, and culture. Goyal proposed a vision of a 10x10x10 partnership, aiming to increase bilateral trade, tourism, and investments by tenfold in the next ten years.
Addressing an event in Madrid, Goyal urged both countries to set ambitious targets for themselves, emphasizing the importance of pushing boundaries for a stronger partnership. He also mentioned the vast opportunities that lie ahead for India and the European Union with the operationalization of the India-EU Free Trade Agreement (FTA). Goyal noted the seamless alignment of the 27 EU member states and Indian businesses in this partnership, highlighting the positive reception of the FTA.
Goyal underlined the significant economic potential between the EU and India, representing a substantial portion of global trade and the global economy. He expressed optimism about elevating engagement levels in various sectors including trade, business, investments, culture, education, tourism, technology, space, and defense. The Commerce Minister emphasized the immense possibilities that exist for both the European Union and India to further strengthen their ties.
