The Chamber of Commerce of Spain hosted a Conference on the European Union–India Free Trade Agreement, organized by the Embassy of India. The event highlighted the strategic relevance of the new agreement, announced last 27 January, and was held within the framework of the Spain-India Dual Year 2026.
José Luis Bonet, President of the Chamber of Commerce of Spain, opened the meeting. He stated that Spanish companies must be “more present” in a market as “important and dynamic” as India. He stressed that the agreement should generate tangible benefits for both economies by opening new business opportunities. He underlined that India is a strategic partner for both the EU and Spain, and that Spain must strengthen its presence in such a large and dynamic market.
He emphasized the active role of the Spanish and Indian Chambers of Commerce in promoting the bilateral relationship and in supporting the conclusion of the agreement, as well as the work carried out in India to support and integrate the Spanish investor community.
The Ambassador of India to Spain, Jayant N. Khobragade, referred to the current context of a redefinition of the international order, in which partnership is essential. He also highlighted the celebration of the Spain-India Dual Year on the occasion of the 70th anniversary of diplomatic relations between the two countries. For the Ambassador, the Free Trade Agreement will create a more favorable framework for trade, investment, and innovation. “By 2047, India aspires to become a fully developed country and, to achieve this, it needs the right partners,” Khobragade stated.
He further stressed the historic importance of the current moment for Spain-India relations, announcing forthcoming visits by Indian ministers. He underlined that the partnership between India and the EU is based on shared values such as democracy and people-to-people ties, and recalled the growing Indian investment presence in Europe (with more than 40 million dollars in accumulated FDI).
For Daniel Calleja, Director of the European Commission Representation in Spain, the agreement with India will create the largest free trade area in the world, encompassing more than two billion people, and will open new opportunities across all sectors, including agrifood, particularly wine and olive oil. He emphasized that the agreement reflects the growth and strategic importance of the EU-India relationship. The EU sees India not only as a major economic power, but as a privileged long-term partner.
He defined the agreement as comprehensive, balanced, and commercially highly significant. He stressed that it will strengthen both the economic and political relations between the world’s two largest democracies. He quoted Ursula von der Leyen describing the agreement as “the mother of all agreements” and highlighted projections that it could double European exports to India.
José Antonio Aróstegui, Deputy Director-General for Multilateral Trade Policy and Economic Security at the Ministry of Economy, Trade and Enterprise, noted that the opportunities provided by the agreement go beyond tariff reductions, offering greater legal certainty and predictability for investment while preserving trade defense instruments and high European standards. He pointed out that the agreement strengthens supply chain resilience, expands Europe’s reach toward the Indo-Pacific, and enhances cooperation in a context of global tensions.
From the Spanish perspective, he emphasized that India is a relevant and growing economic partner, with Spain being its sixth-largest trading partner within the EU. He stated that the agreement will stimulate bilateral trade, rebalance the economic relationship, and strengthen investment ties, generating employment, industrial integration, and technological exchange. He also underlined the importance of a clear regulatory framework, particularly in dispute resolution, and stressed that the FTA should serve as the basis for continued engagement.
A debate panel was subsequently held, moderated by Jaime Montalvo, International Director of the Chamber of Commerce, and featuring the President of the Spain-India Council Foundation, Juan Ignacio Entrecanales, Executive Vice Chairman of Acciona; Anil Bharwani, Partner at EY Spain; Sridhar Iyengar, Director General of Zoho; and Yobana Bermúdez Rodríguez, Director General of Conxemar.
In his capacity as Executive Vice Chairman of Acciona, and President of the Spain-India Council Foundation, Juan Ignacio Entrecanales noted that companies continue to think in terms of globalization, where India competes with regions such as South Africa or Latin America. Factors such as legal certainty, return on investment, and country risk are decisive, according to his company’s perspective. The agreement, he affirmed, will enable companies to enter higher value-added businesses and foster strategic partnerships with Indian firms.
Anil Bharwani, Partner at EY Spain, indicated that the agreement has generated strong interest among Indian companies seeking to enter the Spanish market. He stated that if ratified and brought into force swiftly, it will be a key enabler for conducting business sustainably, and emphasized that it must be accompanied by the development of an ecosystem capable of consolidating its long-term benefits, not only for large corporations but also for SMEs.
Sridhar Iyengar, Managing Director of Zoho Europe, highlighted the timely nature of the agreement and its role in building trust between cultures and countries. For Indian companies wishing to operate in Europe, he stated, it is essential to understand the business culture, regulatory environment, and governmental framework. He noted that a genuine partnership requires working with an open mindset.
Yobana Bermúdez, Managing Director of CONXEMAR, stressed the key importance of imports and of ensuring that regulation supports business activity. She indicated that the debate must be approached from two perspectives: raw materials and final products. She stated that Europe needs raw materials, and that India can be a strategic supplier. She also emphasized that Spain is the key country within the EU for fisheries products and that tariff reduction will be decisive.
