New Delhi, Oct 23 : Amid the festering eurozone recession, Spain's King Juan Carlos I will be coming to India on a four-day visit Wednesday, a trip that will see Madrid focusing new business opportunities offered by the growing Indian economy.
"The visit of His Majesty is expected to carry forward the process of high-level interaction and deepen the relations between the two countries," Syed Akbaruddin, the external affairs ministry's spokesperson, told reporters here Tuesday.
Accompanied by senior ministers and a large business delegation, comprising CEOs of leading Spanish companies, Spain's monarch, who is somewhat of an Indophile with an abiding interest in Indian art and culture, will begin his visit from India's commercial hub Mumbai.
He comes to New Delhi Friday to hold talks with Prime Minister Manmohan Singh and his senior ministers. He will be accorded a ceremonial welcome at the forecourt of Rashtrapati Bhavan before sitting down for talks, which will focus on a wide array of bilateral issues.
Expanding business ties will top the agenda, but other important strategic issues like counter-terrorism and defence cooperation will also figure in the discussions.
Ahead of the visit, India has pitched for Spanish investments in sectors like infrastructure, transport and energy.
Bucking the eurozone downturn, bilateral trade burgeoned to $5 billion in 2011, which represents a growth of almost 18 percent over 2010.
Spanish investment in India is over $1.3 billion. India's total investment in Spain is valued around 605 million euros.
Reeling from the eurozone recession, the Spanish economy has been shrinking for the past year. Against this backdrop, Spanish businesses are looking at emerging markets like India for fresh opportunities.
Source: http://www.mynews.in/News/amid_eurozone_downturn_spains_king_targets_india_opportunity_N500587.html
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