Caixa Bank, a Spanish lender has opened up its representative office in India. This step marks the strengthening of trade relations between the two nations.

"Trade between India and Spain is growing by 15% annually and we plan to help our clients from back home acquire projects here, mainly in the energy and infrastructure sector and industrial equipment," said Ignacia Alvarez Rendueles, Head of Caixa Bank.

Talking about the revenue model of the bank, he said, "As far as revenues are concerned, we gauge it in terms of increasing our market share of trade transactions. We plan to increase it (market share of trade transactions) to 15% from the current 10% in the next couple of years."