India and Spain forge new agreements in Rail Transport and Customs Cooperation

India and Spain have signed important agreements to improve cooperation in rail transport and customs. Prime Minister Narendra Modi and Spanish Prime Minister Pedro Sanchez met on Monday to discuss ways to enhance political, economic, and security collaboration. This visit marks the first time a Spanish prime minister has visited India in nearly 20 years.

The two leaders held discussions at the Lakshmi Vilas Palace in Vadodara, where they also opened a new facility for producing C295 military transport aircraft. During the meeting, they talked about global issues, including the conflicts in Ukraine and West Asia. PM Modi described the partnership between India and Spain as "like a prism"—multidimensional and vibrant.

ALSO READ: Delhi BJP leader Virendra Sachdeva hospitalized after taking Ddp in ‘Polluted’ Yamuna

ALSO READ: Mamata Banerjee warns of 'Riots Plot' ahead of Diwali, calls for caution

Agreements signed for future cooperation

Both countries signed a memorandum of understanding (MoU) to enhance rail transport. This agreement aims to boost cooperation in designing and operating rail facilities, urban transport systems, and regional railways. They also agreed on customs cooperation and will create a fast-track process to encourage mutual investments. Furthermore, they announced that 2026 will be celebrated as the "India-Spain Year of Culture, Tourism, and AI."

India views Spain as an important partner in the European Union, as Spain is the fifth-largest economy in the EU. Trade between the two nations is worth around $10 billion, with Spanish investments in India totaling $4 billion. Every year, 250,000 Indian tourists visit Spain, while 40,000 Spaniards come to India. Both countries are also working towards a free trade agreement with the EU.

The two leaders expressed their deep concerns about the war in Ukraine and stressed the need for a peaceful resolution through dialogue and diplomacy. They also highlighted the importance of cultural connections between the two nations, citing examples of musicians who have helped bring India and Spain closer together over the years.