Europe visit: PM Modi makes second stop in Spain
After a successful visit to Germany, PM Modi landed in Spain, hoping for strengthened engagement with the nation. His visit marks the first visit of an Indian PM to Spain in nearly three decades. "Landed in Spain, marking the start of a very important visit aimed at improving economic and cultural relations with Spain", he tweeted Let's see what Modi expects to get done!
What context is this happening in?
PM Modi is currently on a Europe visit, covering four nations including Germany, Spain, France and Russia, primarily aiming to enhance counter terrorism co-operation and attract investments. He completed a successful visit to Germany, clinching 12 agreements at the India-Germany Inter-governmental Consultations and securing eight declarations of intent, for co-operation in areas including traditional medicine, digitization and sustainable development.
What does Modi plan to do?
Modi is expected to meet up with Spain's top leaders including King Felipe VI and President Mariano Rajoy to discuss issues including economic co-operation and counter terrorism. He also plans to interact with top Spanish entrepreneurs to attract investments under the 'Make in India' program. Agreements are likely to be signed in areas including infrastructure, civil aviation, waste water management and the high-tech sector.
Bilateral Investment Treaties- A sore thumb that sticks out
India recently scrapped Bilateral Investment Treaties (BIT) with all European countries stating they were poorly negotiated and against Indian interests. India further refused EU's requests to continue with the existing arrangements until negotiations could be initiated. Absence of BIT can likely discourage Spanish entrepreneurs from investing in India. Moreover, as EU is busy negotiating the Brexit, these are likely to get delayed further.
