On October 28, 2024, Spanish Prime Minister Pedro Sánchez commenced a two-day visit to India aimed at enhancing trade relations between the two nations. During the first day of his visit, Sánchez and Indian Prime Minister Narendra Modi inaugurated a major project involving a partnership between Indian and European companies at the Tata Aircraft Complex in Vadodara, Gujarat.
This facility, which will produce the C295 military transport aircraft, is a collaboration between European aerospace company Airbus and India's Tata Group. The project follows a 2021 agreement in which India signed a contract worth approximately ₹21,935 crores for the supply of 56 C295 aircraft from Airbus Defence and the Spanish company, Space SA. Out of these, 16 aircraft will be delivered from Spain, while 40 will be assembled in India. The facility will also handle assembly, testing, delivery, and maintenance of the aircraft, with plans for future exports.
After the inauguration, a roadshow was held in Vadodara to welcome Sánchez, marking his first visit to India and the first by any Spanish leader in 18 years. Following the roadshow, official discussions took place at the Laxmi Vilas Heritage Palace, focusing on various sectors including trade, investment, IT, defense, renewable energy, pharmaceuticals, culture, and tourism.
Spain ranks as India's sixth-largest trading partner within the European Union, with bilateral trade valued at $8.25 billion in 2023. India exported goods worth $6.33 billion to Spain while importing $1.92 billion. Key exports from India to Spain include mineral fuels, chemicals, iron and steel, and textiles.
Additionally, Spain is the 16th largest investor in India, hosting over 280 Spanish companies. India has invested approximately $90 million in Spain, where around 80 Indian companies operate. Accompanying Sánchez on his visit are representatives from Navantia, Spain's largest shipbuilding company, who are expected to secure contracts, including for submarines.
Sánchez will continue his visit in Mumbai, where he plans to meet leaders from the business and industrial sectors and explore potential collaborations in the entertainment industry.
This visit follows Sánchez's trip to China last month, indicating an effort to strengthen ties with both China and India in Asia.