Indian Economy News

Spain furnishes draft MoU for smart city cooperation; proposes to develop Delhi as global and smart city

New Delhi: Spanish Foreign Minister discusses bilateral cooperation with Shri Venkaiah Naidu

Spanish Foreign Minister visiting India after 42 years ; Five high level visits of Spanish leaders to India this year so far

The Spanish Government today submitted a Draft Memorandum of Understanding for cooperation in developing smart and sustainable cities in India. The Draft MoU relating to urban development was presented during the meeting of a high level Spanish delegation led by its Minister of Foreign Affairs and Cooperation Shri Jose Garcia – Margallo y Marfil with the Minister of Urban Development Shri M.Venkaiah Naidu in Parliament House. Spain has proposed to assist in developing Delhi as the first global and smart city in India under the framework of this Draft MoU.

Spain has come up with the Draft MoU further to the visit of Shri Venkaiah Naidu to Barcelona to attend the Smart City Expo World Congress in November last year and the meeting of Spain’s Secretary of State for Trade Jamie Garcia Legaz in February this year with Shri Naidu.

Welcoming Spain’s interest in the Indian Government’s initiative of building smart cities, Shri Naidu told the delegation that the Draft MoU would be examined by the Government for further action in consultation with all concerned agencies.

The Spanish Minister said that his country is among the world leaders in building Railway and Metro networks, Roads and Ports besides in Shipping, Recycling of Waste, Water Management and promoting Renewable Energy Sources and was keen to associate with India in its efforts for infrastructure promotion. The visiting Minister referred to the extensive work done by Spanish companies in Latin American countries in this regard.

Shri Venkaiah Naidu gave a detailed account of the measures being taken by the central government to promote investments into the country by enhancing the ease of doing business, developing infrastructure, liberalizing FDI norms etc.

During the discussions it transpired that Spanish Foreign Minister is visiting India after 42 years on a substantial visit and five high level visits of Spanish leaders to India have taken place during 2015 so far including those of Ministers of Defence, Trade and Prime Minister’s Special Envoy highlighting Spain’s interest in the development initiatives of the Indian Government.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.