PromoMadrid delegation in Bangalore to woo IT and BT companies

Bangalore, Nov 21 (UNI) A delegation of PromoMadrid, a business promotion concept of the Madrid Regional Govt of Spain is currently in India to woo Information Technology and Biotechnology firms to set shop in the region.

The delegation held a symposium on "Growth in Europe via the region of Madrid" along with the Interactive Technology Software and Media Association (ITSMA) and Electronic and Computer Software (ECS) Export Promotion Council here last night.

The delegation led by Mr. Jose Manuel Reyero, CEO of PromoMadrid, believed that India, the world's fourth largest economy was pegged as an emerging superpower, and was now the second fastest growing economy. Incidentally, leading Indian companies were in the process of expanding their global presence.

The delegates from Spain said Madrid Region offered an investor friendly ambience and was a winning location for Indian ICT and Life Sciences companies.

The other delegates include Mr. Jose Antiono Bretones, Trade Commissioner of Spain, New Delhi and Mr. Federico Manrique, General Director for Technological Innovation, Madrid Regional Government.

Mr Reyero said ''PromoMadrid acts as the one-stop official information source and advisory bureau for all foreign companies considering doing business in Madrid. The Government of Madrid, through its Ministry of Economy and Technological Innovation and PromoMadrid, is willing to offer Indian companies all its support and assistance should they consider expanding its business activities in Madrid''.

During their visit to India the delegation would meet up with ICT and Bio-Pharma bell weather companies like Infosys, Wipro and Avesthagen.

According to Mr. Vicente Orts, Executive Director of PromoMadrid, "Spain's ambition to draw level with the leading countries in the world has driven the Madrid Region authorities to establish a network of initiatives to stimulate high-technology industries like ICT and Biotech. In Spain, the clusters for ICT and Bio-Pharma are concentrated in the Madrid Region".

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