India-Spain Ties: A New Horizon for Trade and Investment

India and Spain have fortified their economic and trade relationship, amounting to approximately USD 10 billion, according to Raghvendra Kumar Singh, Principal Secretary to Madhya Pradesh's Chief Minister Mohan Yadav. Speaking in Barcelona, Singh highlighted that 280 Spanish companies operate in India, with 90 Indian firms established in Spain.

Singh underscored the promising potential of the ongoing India-EU Free Trade Agreement negotiations, projecting new avenues for economic collaboration. He also positioned Madhya Pradesh as a prime investment destination, citing its geography, extensive food grain production, and a young workforce.

Madhya Pradesh's Chief Minister Mohan Yadav, on a visit to Spain, explored models for developing Mega Food Parks and logistics infrastructure, aiming to protect farmers against market price drops and enhance value-addition opportunities. These efforts are expected to stimulate economic prospects both locally and globally.

(With inputs from agencies.)