Basque keen to strengthen economic ties with Maharashtra

Aimed at strengthening economic ties, the Basque government is looking to develop cooperation with Maharashtra in sectors such as energy, urban development, infrastructure, railways and auto. A proposal for collaboration has been received in the backdrop of Basque Economic Development and Competitiveness Minister Arantxa Tapia's visit to India and her meeting with Chief Minister Devendra Fadnavis on March 23 this year, where she discussed the possibility of an MoU between both the governments. A pact in this regard will serve as a channel for communication between both the governments, leading to sharing of technical knowledge on transformation and regeneration of cities, railway infrastructure, renewable energies, automobile and wine industry.

The deal proposes to set up a Trade Mission in Maharashtra for Basque companies to understand the economic advantages and strong points of the industry and economy of Maharashtra. It also proposes to form a monitoring committee of four members, two from each government, to monitor the progressive achievement of objectives mentioned in the pact and set a time frame for these goals. The pact also proposes mutual co-operation in segments such as urban development, design and management of public services, specially water management, smart grids, buildings and cities - to meet future urban challenges and achieve sustainable cities.

"There will be a collaboration in planning of development and modernisation of railway infrastructure, high speed network and suburban networks (subways), exchange of experiences in defining mass water policy, energy infrastructure and telecommunications," it states. The government is in the process of examining the clauses of the pact, and an agreement will be signed if it is in the interest of the Maharashtra, State Finance Minister Sudhir Mungantiwar told agency. "We are in the process of examining the contents of the MoU. Our basic contention is that we are ready for anything that is in the interest of the state in the long run. If the conditions set are beneficial for us, we will go ahead with it," Mungantiwar said.