Spanish President affirms help for India’s energy security, green transition

Created by Academy of Civil Services in Current Affairs 30 Oct 2024
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Context: Spanish President Pedro Sanchez on Tuesday affirmed
Madrid’s commitment to help New Delhi enhance its energy security and green
transition. The country is eager to advance negotiations for a free trade
agreement (FTA) between India and the European Union. As of 2021, the EU was India’s
second-largest trading partner, after the US. The India-EU merchandise trade
had grown 43.5 per cent to USD 116.36 billion in FY22, with India enjoying a
trade surplus.



India-Spain Relations



·       About: Spain’s Prime Minister Pedro Sanchez is reaching Vadodara, Gujarat
where he and Prime Minister Narendra Modi will hold bilateral talks and
inaugurate the Final Assembly Line (FAL) plant of the C295 medium-lift tactical
transport aircraft for the Indian Air Force.



·       Background: India and
Spain established diplomatic relations in 1956. Though limited
historical interaction existed prior, both nations shared democratic values,
commitment to global peace, and respect for multiculturalism have formed a
strong foundation for bilateral ties.



·       Strategic
Significance and Cooperation:
The strategic relationship between
India and Spain is steadily expanding, encompassing areas like defence,
counterterrorism, and cybersecurity.



Defence- Spain is a
key partner in India’s defense modernization, providing expertise in aerospace
and naval technology. Spanish companies are involved in defense projects,
including submarine technology transfer and collaborations for military
aircraft.



Counterterrorism- India and
Spain actively cooperate in counterterrorism and intelligence sharing,
recognizing mutual concerns regarding global terrorism.



Sustainable
Development and Climate Action-
Both nations are committed to the
Paris Agreement and actively collaborate on climate change and sustainable
development goals. Spain’s expertise in renewable energy aligns with India’s
goal of increasing clean energy sources.



·       Common
Groupings and Multilateral Cooperation:
India and Spain engage
collaboratively through several multilateral platforms, including



United
Nations:
Both countries work together on issues of global peace,
sustainable development, and humanitarian aid.



G20: As members
of the G20, India and Spain share a commitment to addressing global economic
challenges, trade reforms, and climate action.



International
Solar Alliance (ISA):
Spain is a member of the ISA, aligning with India’s
initiative to promote solar energy and sustainable development.



Key
points



·       Overview: The EU
country seeks to combine its innovation with the potential for renewable energy
in India. Spain possesses expertise in solar, wind, green hydrogen and smart
grid technologies and companies of the two countries can collaborate to make the
planet greener.



Way
forward:
Spanish
companies in engineering and infrastructure are ready to contribute expertise
to developing efficient, safe and sustainable transport systems and mobility
solutions. Acknowledging India’s emergence as an eminent player in auto
manufacturing, Sanchez said companies from the two countries can work on of
electric vehicles, batteries, and charging infra.

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