India open for Spain investment: Kamal Nath

New Delhi, Sep 19: Union Minister of Commerce and Industry Kamal Nath has invited investments from Spain, as the investment climate in India is conducive for business. During the interaction with Jose Maria Aznan, former Prime Minister of Spain Thursday, Sep 18 evening, Kamal Nath informed that there are huge potential for investments in the area of food processing industries, ceramics, telecommunications and chemicals.

Both sides noted that the 9th meeting of the India-Spain Joint Committee would take place in Madrid on a date to be decided mutually. The 8th Meeting was held during November 2005. Presently, India-Spain Joint Working Groups are in the areas of food processing and tourism.

India-Spain bilateral trade during 2007-08 was to the tune of US 3279 million dollar when compared to the figure of US 2502 million dollar during 2006-07. India"s exports to Spain is 1.5 per cent of its global exports during 2006-07 and 1.4 per cent in 2007-08

Major items of Indian exports to Spain including, readymade garments, marine products, machinery and instruments, transport equipments and electronic goods. While major items of Indian imports from Spain including, iron and steel, organic chemicals, project goods and other commodities.

ANI