Chennai Investment：India Spain to Observe 2026 as Year of Culture, Tourism and AI

India and Spain have agreed to observe 2026 as the Year of Culture, Tourism, and Artificial Intelligence (AI)Chennai Investment. This and other agreements were reached between India and Spain to strengthen bilateral ties during the visit of Spanish Prime Minister Pedro Sanchez to India.

Pedro Sanchez was on his first official visit to India after becoming Spain's Prime Minister in 2018Udabur Wealth Management. He is also the first Spanish Prime Minister to visit India in the last 18 years. In 2006, Spanish Prime Minister Jose Luis Rodriguez Zapatero visited India.

During his three-day visit to India from 27 to 29 October 2024, the Spanish Prime Minister visited Vadodara in Gujarat and Mumbai in Maharashtra.

Pedro Sanchez along with Prime Minister Narendra Modi, inaugurated the Tata Aircraft Complex in Vadodara. The Tata Aircraft Complex will assemble 40 C-295 military transport planes for the Indian Air Force. The Tata Aircraft complex is a joint venture of Tata Advanced System Limited and the Airbus Defence and Space, SpainNew Delhi Wealth Management. The C-295 plane is being supplied by Airbus Defence and Space, Spain to the Indian Air Force.

Later, on 28 October, the two leaders held a summit-level meeting at the Lukshmi Vilas Palace in Vadodara. Both leaders discussed global and bilateral issues.

They also witnessed the signing of a number of agreements between India and Spain to further cooperation between the two countries.

Memorandum of Understanding (MoU) signed to further cooperation in Rail Transport.

An agreement was signed for Cooperation and Mutual Assistance in Customs Matters.

Cultural exchange programmes between the two countries for 2024-2028.Kolkata Stocks

Spain will establish a Consulate in Bengaluru, and India will operationalise its Consulate in Barcelona, Spain.Lucknow Stock

Setting up of a Fast Track mechanism in both countries to facilitate Indian investment in Spain and Spanish investment in India. The Fast Track mechanism will be set up in the Department for Promotion of Industry and Internal Trade (DPIIT), Union Ministry of Commerce.In Spain, it will be in the Directorate General of International Trade and Investment, Under the Spanish Ministry of Economy, Trade and Business.

A Joint Commission will be set up under the Audio Visual Co-Production Agreement.

The year 2026 is to be observed as the India-Spain Year of Culture, Tourism and AI

The Spanish Prime Minister Pedro Sanchez visited Mumbai on 29 October 2024 after his meeting with Prime Minister Narendra Modi in Vadodara.

He addressed the India-Spain Business Summit meeting along with the Union Minister for Road Transport and Highways, Nitin Gadkari.

The Business Summit was organised by the DPIIT, Confederation of Indian Industries (CII) and the Spanish trade and investment body, ICEX.

Pedro Sanchez also addressed a CEO Forum held in Mumbai. The CEO Forum was organised by DPIIT and FICCI(Federation of Indian Chambers of Commerce and Industries) along with the Chamber of Commerce of Spain.

He also addressed the fourth India-Spain Forum, jointly organised by the Observer Research Foundation (ORF) and the Spain-India Council Foundation.

Also, read: PM Modi & Spanish PM Pedro inaugurate Tata’s C-295 aircraft factory

Spain is a Western European country located on the Iberian peninsula.

It is a member of the European Union and the North Atlantic Treaty Organisation(NATO).

It is a constitutional monarchy, and the King is the head of the State.

The Prime Minister is the head of the government.

Prime Minister: Pedro Sanchez

Hyderabad Wealth Management