Catalan exports to India have strengthened Catalonia’s trade foothold in South Asia. According to fresh data from Acció, the Generalitat’s agency for business competitiveness, the region recorded a 7.2% increase in sales to India during the 2024 fiscal year. Consequently, Catalan exports to India reached a volume of €624.8 million, driven by a consistent output from nearly 800 regular exporters.

These figures underline Catalonia’s pivotal role in Spanish foreign trade. The region now accounts for 30% of Spain’s total exports to India. This regional success contributes to a broader national recovery, which has included positive indicators like Spain’s unemployment rate falling below 10%. Meanwhile, the growth comes at a strategic moment, as businesses prepare to leverage the recently ratified trade agreement between the European Union and India.

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Impact of the EU-India Trade Agreement on Catalan exports to India

The timing of this export growth is significant. The recent ratification of the Free Trade Agreement between Brussels and New Delhi is expected to radically alter the commercial landscape. Therefore, the deal outlines the elimination or reduction of tariffs on 96.6% of EU exports. This move is projected to save European exporters approximately €4 billion annually.

Brussels anticipates that EU exports to India could double once the treaty enters full force. Key sectors stand to gain substantially from the dismantling of protectionist barriers:

  • Automotive: Tariffs on community automobiles will plummet from 110% to just 10%.
  • Machinery: Current tariffs of up to 44% will be eliminated completely.
  • Chemicals and Pharmaceuticals: Tariffs of 22% and 11% respectively will be reduced to zero.

Machinery and Chemicals Lead Catalan exports to India

The current profile of Catalan exports to India is well-positioned to benefit from these specific tariff cuts. In 2024, the export flow was dominated by industrial sectors:

  • Machinery: 13.7% of total exports.
  • Organic Chemicals: 13.1% of total exports.
  • Plastics: 12.3% of total exports.

Currently, 790 Catalan companies maintain regular export activities with India. Acció expects this figure could rise as the new treaty lowers administrative and financial barriers to entry. Furthermore, innovation will be key. For instance, AI’s role in transforming industrial competitiveness is a central focus for maintaining an edge in global markets.

Trade Imbalance Remains for Catalan exports to India

Despite the positive trajectory for exporters, the trade balance remains heavily weighted in India’s favour. While India accounts for only 0.6% of Catalonia’s total foreign sales, it represents a more significant 2% of the region’s international purchases.

In 2024, Catalan imports from India stood at €2.24 billion. Although this represents a 7% decrease compared to the previous year, the volume of imports is still more than three times that of exports. However, Catalonia remains a key entry point for Indian goods into Spain, processing 37.2% of all Spanish imports from the Asian nation. In addition, other economic pillars like Catalonia’s high-value tourism sector help provide a more complete picture of the region’s financial health. These imports are primarily concentrated in organic chemicals (20.1%), fuels (19.8%), and clothing (13.1%).

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