One of the most notable contracts is the procurement of 56 C295 aircraft from Airbus, valued at approximately $2.5 billion. This deal marks a significant milestone as it includes the production of 40 aircraft in India by TATA Advanced Systems, representing India's first major project in the defence aircraft sector under the "Make in India" initiative.
The first C295 aircraft was handed over to the Indian government on September 13, 2023, in Seville, highlighting the operational progress of this collaboration.
The 4th India-Spain Defence Joint Working Group convened in June 2022, focusing on enhancing cooperation in various defence sectors. This group is part of ongoing efforts to review and strengthen defence ties.
Notable visits have included the Chief of the Indian Air Force overseeing the C295 handover and a visit by Spain's Chief of Air Force to participate in joint exercises, which underscores the commitment to deepening military collaboration.
Surge In Indian Defence Exports
India's overall defence exports have surged, reaching a record of approximately $2.63 billion for FY24, marking a growth of 32.5% from previous years. This expansion reflects India's strategy to enhance its presence in global arms markets.
Indian defence exports include a range of systems such as BrahMos missiles, Dornier aircraft, and various artillery systems. These products are increasingly being sought after by countries worldwide, including Spain, as part of broader geopolitical strategies.
The trajectory of Indian defence exports illustrates not only a growing economic partnership but also strategic military collaboration with friendly countries that could play a crucial role in regional security dynamics.
As both India and Spain countries continue to engage on multiple fronts, including trade and defence, their bilateral relations are poised for further enhancement in the coming years.