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Bilateral trade in  goods  in 2021 stood at 6.73 US$ billion, growing by 33% over a similar period a year ago. India's exports grew by 31% and stood at US$ 4.96 billion and while imports grew by 41% and stood at US$1.77 billion. 

 

Spain is the 15th largest investor in India with cumulative FDI stock of US$ 3.43 billion (April 2000 - March 2021). There are more than 280 Spanish companies in India while there are about 70 Indian companies in Spain mainly in software & IT services, pharmaceuticals, chemicals and logistics. 

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India is among the top 30 investors in Spain globally and among the top 5 from Asia.

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The Spanish footwear sector continues its upward trend. In the first quarter of 2022, its turnover was up by 25.5%, on a comparable basis to the same period of 2021.  According to the Spanish Statistics Institute (INE), the turnover index (ICN)* for the leather and footwear industry increased by 28.2% in March 2022, as compared to the same month last year, and by 2.2%, as compared to the previous month. Therefore, the total average turnover reached between January and March grew by 25.5%, on a comparable basis to the first quarter of 2021. The same data also indicates that the turnover of the fashion sector, comprised of the textile, clothing, and footwear and leather segments, rose by 11.1% in the first quarter of this year, as compared to the same period of the prior year.