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Spain-India trade ties to increase 20% yearly over 5 yrs; lot of potential in renewable energy: Baranano
The Ambassador of Spain to India, Jose R Baranano Friday said he expected his country's bilateral trade with India would increase on an average of 20 per cent every year over the next five years.
The bilateral trade between both the countries is around $6 billion presently, he said adding language and distance have been two of the biggest hinderances in regard to the growth of trade ties. Baranano said there is lot of potential in tourism, education, renewable energy and agriculture sector.
"The economic condition across the globe is a bit messy but we hope that over the next five years the trade ties between the two countries would increase on an average of 20 per cent every year" he told reporters. The ambassador said, "The world market is swiftly shifting from Europe to India, China and other Asian countries".
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