New Delhi, July 20 (IANS). India and Spain have agreed to accelerate talks to link their digital payment platforms UPI-Bizum. This information was given by the Commerce Ministry.
This agreement between the two countries was made during the visit of Union Commerce and Industry Minister Piyush Goyal, who reached Spain as part of his tour of four countries in Europe from July 13 to 18.
Goyal interacted with Carlos Cuerpo Caballero, First Deputy Prime Minister and Minister of Economy, Trade and Business of Spain and Jordi Herreu Boher, Minister of Industry and Tourism.
He proposed to organize the annual meeting of the India-Spain Joint Commission with the participation of the business community. At the same time, Spain proposed to set up a dedicated “India Team” to facilitate bilateral cooperation.
Both countries identified vast potential for cooperation in sectors such as automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure. The discussion also covered investment promotion, movement of professionals and joint investment in Latin America.
It focused on taking advantage of Spain’s strategic position as a gateway to Europe and Latin America.
The Union Minister welcomed the flagship C-295 aircraft program under the ‘Make in India’ initiative and appreciated the progress made in the Migration and Mobility Partnership and the Social Security Agreement.
Addressing the India-Spain Business Forum, Goyal called upon the industry to form early-stage partnerships to make the most of the opportunities offered by the India-European Union (EU) Free Trade Agreement (FTA). He also presented an ambitious “10×10×10” vision to increase bilateral trade, investment and tourism 10-fold over the next decade.
Goyal co-chaired the 3rd Ministerial Meeting of the India-EU Trade and Technology Council (TTC) in Brussels.
He welcomed the adoption of the TTC Action Plan for the year 2026-27. Also welcomed the listing of 21 additional Indian fish processing establishments, taking the total number of approved Indian establishments to 625.
India also raised the issue of listing Indian ship recycling yards and proposed to launch an India-EU dialogue on skills, education and talent mobility.
Both sides reiterated their commitment to work together towards the early signing and early implementation of the India-EU Free Trade Agreement (FTA).
The ongoing negotiations on Investment Protection Agreement and Geographical Indication Agreement, cooperation on Carbon Border Adjustment Mechanism (CBAM), simplification of regulatory processes, market access of agricultural products, duty concessions on Basmati rice and steel scrap and many other issues were also discussed in the meeting.
–IANS
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