The Department of Industry holds a meeting for 60 Basque firms to secure business in the Indian rail sector in the rail sector.

The Indian Government plans to invest millions of euros in the rail sector in 2012-2017. A 9700 million euro investment is envisaged this year alone for new tracks and renewal of existing lines -The aim of the meeting is to facilitate the Basque rail sector supplier companies’ access to the main public enterprises in this sector -Since 2006, India has been working its way up the ranking as a destination for Basque exports, reaching the top 20 in 2010

Basque Government, 22/02/2012

The Department of Industry, Innovation, Trade and Tourism, through SPRI (the Society for Competitive Transformation), today brought together in Bilbao 60 Basque rail sector supplier companies and four Indian public enterprises, with a view to facilitating the formers’ access to the multi-million euro investment being planned by India for its rail and metro network over the next few years. The meeting is held to coincide with the Basque Government’s business and institutional mission to India set to take place on 19 March, led by the Basque President Patxi López and Regional Minister Bernabé Unda, and which will include visits to Bombay, Pune, New Delhi and Bangalore. The Basque President and the Industry Minister will be accompanied on the trip to India – the world’s fourth largest economy – by a delegation formed by the Chambers of Commerce and the companies. The aim is to reach third place in the export ranking by 2015.