Spanish PM in India seeking to bolster trade ties – Business

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Spanish Prime Minister Pedro Sanchez was welcomed to India Monday with a flower-filled open-top parade alongside counterpart Narendra Modi, as Madrid seeks to boost investment in the world’s fifth-largest economy.

The duo waved to crowds in a vehicle smothered in orange marigold garlands on their way to inaugurate a military aircraft factory, a collaboration between Tata Advanced Systems and Airbus, in Vadodara in Gujarat state.

It is the first visit by a Spanish premier to India for 18 years.

India’s defence ministry agreed to a $2.5 billion deal for 56 cargo and troop-carrying C295 aircraft from Airbus Defence and Space in 2021.

While 16 will be assembled in Seville in Spain — with the first deliveries made last year — the 40 remaining will be built in India.

The Indian plant in Vadodara will complete the first “Made in India” C295 aircraft in 2026.

“This factory will not only strengthen India-Spain relations, but also the ‘Make in India and Made for the World’ mission,” Modi said at the inauguration.

“It also reinforces India’s position as a trusted partner in global aerospace manufacturing.” Sanchez said Airbus had opened a new chapter in India’s defence and space industry.

“This project strengthens our industrial ties while underlying our country’s deep commitment as a reliable and strategic partner,” he said, speaking in English.

“It shows, as well, the capabilities of the Spanish defence industry.”

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