Ahmedabad: Gujarat is poised to strengthen its role as a key player in India's growing trade and economic relationship with Spain, as the state welcomes Spanish prime minister Pedro Sanchez Perez-Castejon next week. The state govt said on Thursday that the Spanish PM's visit for the inauguration of the Tata-Airbus manufacturing facility in Vadodara marks a significant milestone in Gujarat's efforts to foster better bilateral cooperation.
The govt statement said that Gujarat has emerged as a leading hub for trade between India and Spain. Ports like Mundra and Kandla have facilitated a growing volume of trade, making Gujarat an attractive destination for Spanish investments in sectors like automotive, renewable energy, and manufacturing.
The statement said notable investments by Spanish firms include Grupo Antolin, which set up a production facility in Sanand in 2015 to serve leading automobile manufacturers such as Ford and Tata. In the renewable energy sector, Siemens Gamesa and Windar Renovables set up manufacturing plants in Halol.
Trustin Tape, a joint venture between Miarco, a Valencia-based company specializing in technical tapes and adhesive solutions, and Indian PPM Industries, opened its production unit in Dahej in 2018. Likewise, Iberchem, a fragrance manufacturer, has been operating a facility in Changodar in Ahmedabad since 2010.
The Tata-Airbus project in Vadodara further highlights the growing strategic defence cooperation between Gujarat and Spain. Out of 56 C295 military aircraft to be produced for India, 40 will be manufactured in India, strengthening the ties between the two regions, the statement said.
Gujarat's exports to Spain also saw substantial growth, reaching $0.94 billion in 2023-24. Key exports include organic chemicals, machinery, mineral fuels, and iron and steel products, reflecting the state's diverse industrial base, the statement added.