India seeks Spain investments in various fields

New Delhi: There is huge investment potential in India in the next few years in modernisation of highways, railways, power sector, telecommunication and urban infrastructure, India has told Spain.

Addressing the India-Spain Investment and Business Cooperation Forum, the Union Commerce and Industry Minister, Mr Kamal Nath, observed that Spain could probably take advantage of these opportunities as Spain is a big investor globally.

The meeting was attended by Mr Miguel Sebastian, Minister of Industry, Tourism and Trade of Spain, and business representatives from the Indian and Spanish side.

Mr Nath highlighted that the major sectors that have attracted FDI investment in India include ceramics, telecommunications, metallurgical industries, cement and gypsum products, construction activities, computer software and hardware, automobile industry, etc. A few Indian companies have established their presence in Spain, he said.

Mr Nath said “it is our endeavour to continue to provide a stable and conducive investment climate, both for the domestic investor and the foreign investor, and to manage the economy in a manner that facilitates inclusive growth driven by enhanced investment and consumption.

Our policy of encouraging both the public sector and the private sector and fostering competition has stood us well. It is only an open economy that will bring gains in efficiency and productivity, reward innovation and enterprise, and ensure inclusive growth.”