India waiting with open arms for German investments: Modi

India and Spain should strengthen bilateral cooperation in the fight against terrorism as "both our countries" have faced the security challenge, Prime Minister Narendra Modi told Spanish President Mariano Rajoy today.

He arrived in Spain late Tuesday from Germany.

During his tour to Spain, a number of agreements are likely to be inked in the fields including, renewable energy, high speed rail, infrastructure, civil aviation, water waste management and air space management. Addressing reporters at Moncloa Palace, he said that India was in favour of "more productive" ties with Spain.

The two countries enjoyed a 70-year alliance forged during the Cold War, when the Soviet Union was India's largest trading partner, diplomatic ally and main arms supplier, providing everything from tanks to aircraft.

Ahead of talks with his Mr Rajoy in Madrid, Prime Minister Modi said that India was committed to take ties with Spain to "a new level". The two Prime Ministers last met on the sidelines of the G20 Summit in Turkey's Antalya in November 2015.

Mr.Modi said that, the GST is the biggest economic reforms that India has ever had.

There are around 200 Spanish companies in India and they are keen to invest and expand their presence in India.

Prime Minister Narendra Modi called on Spanish King Felipe VI at the royal palace here on Wednesday. "These sectors have also been identified by my government as priority sectors", he said, adding that there are many complementarities in economic terms between the two countries. And as per some optimists, the India-EU FTA might just see the light soon (or this time) as EU's other partnership with other countries are not shaping up - as expected.

Modi said India has emerged as the fastest growing major economy the last three years with GDP growth rate of over 7 and is a "bright spot" in the global economy.

They covered areas of digitalisation, skill development, sustainability, cyber policy, development cooperation, advanced training, vocational education, health sector, alternative medicine, foreign service institutes, railway safety and sustainable urban development.

He asserted that initiatives like Make in India, Digital India and Start up India have become global magnets for investment. "India and Germany have both in our blood and we will move together in that direction", Modi said at the conclusion of the IGC, a format he likened to the Pragati meeting he holds in Delhi.

  • Leroy Wright