This article covers trade and investment between India and Spain: trade figures, the main goods traded, investment and company presence, business mechanisms, trade fairs and the Commerce and Industry Minister's visit to Spain in July 2026. It is based on the MEA brief of July 2026 published by India's Ministry of External Affairs. The figures describe the position at that time.

Trade figures

According to the MEA brief of July 2026, Spain is India's 6th largest trade partner in Europe. The brief gives the following figures, citing MINCOTUR, Government of Spain:

  • In 2024, bilateral trade crossed US$ 11 billion. India's exports stood at US$ 7.83 billion and imports at US$ 3.29 billion.
  • In 2025, bilateral trade in goods reached USD 9.41 billion, of which India's exports were around USD 7.02 billion.

Main items traded

India's top exports to Spain are mineral fuels, chemical products, iron and steel, textiles, machine and mechanical appliances, seafood and leather.

India's major imports from Spain are mechanical appliances, chemicals, plastic and mineral fuels.

Investment and companies

Spain is the 16th largest investor in India, with cumulative FDI stock of US$ 4.29 billion for the period April 2000 to March 2025, as of the brief.

There are more than 250 Spanish companies in India and more than 90 Indian companies in Spain.

The brief refers to the signing of the India-EU Free Trade Agreement and states that bilateral trade and investment relations are expected to gain fresh momentum as a result.

Business mechanisms

Under the framework of the JCEC, the India-Spain CEOs Forum was constituted in February 2015. Its first formal meeting was held in Madrid during Prime Minister Modi's visit in May 2017, and its second in Mumbai during President Sánchez's visit to India in October 2024.

To boost trade and investment relations, the Indian Chamber of Commerce was established in October 2023.

Commerce and Industry Minister's visit, July 2026

Minister of Commerce and Industry Shri Piyush Goyal visited Spain on 13 July 2026. The brief describes it as the first visit by an Indian Minister of Commerce and Industry to Spain in sixteen years.

He held bilateral meetings with Mr. Carlos Cuerpo, First Vice-President of the Government and Minister of Economy, Trade and Business, and with Mr. Jordi Hereu, Minister of Industry and Tourism. He also delivered the keynote address at the India-Spain Business Forum, organised with the Chamber of Commerce of Spain, CEOE, ICEX, FICCI and CII.

Both sides reaffirmed the India-Spain Strategic Partnership and agreed to:

  • prepare a joint cooperation roadmap;
  • institutionalise regular ministerial and business dialogue;
  • arrange a high-level Spanish ministerial and business delegation to India before the end of the year.

In his keynote address, the Minister set out a "10 by 10 by 10" vision for a tenfold increase in bilateral trade, tourism and investment over the next decade. The practical guide in this series covers the discussions on a Social Security Agreement that were also agreed during the visit.

Policy and business forums

The Spain-India Council Foundation organised the 5th Spain-India Forum in Barcelona from 5-6 November 2025, in collaboration with the Observer Research Foundation (ORF). Previous editions were held in 2014, 2017, 2022 and 2024.

Spanish delegates took part in the India-EU Forum in February 2026.

Trade fairs

According to the brief, Indian delegations regularly take part in major international trade fairs and conferences in Spain, including:

  • FITUR (tourism)
  • Mobile World Congress (telecom)
  • Alimentaria (gastronomy and hospitality)
  • FEINDEF (defence)
  • Cevisama (ceramics)
  • Fruit Attraction (fruits and vegetables)
  • InterGift (jewellery, textiles and gifts)
  • Smart City Expo World Congress (smart cities)