Rome [Italy], October 31 (ANI): Prime Minister Narendra Modi on Sunday invited Spain to invest in India and take advantage of India's National Infrastructure Pipeline, Asset Monetization Plan and the Gati Shakti Plan.

The developments as Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez held talks on the sidelines of the G20 Summit and discussed ways to deepen ties between both countries.

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"PM Modi invited Spain to invest in various sectors including Green Hydrogen, infrastructure and defence manufacturing and further take advantage of India's National Infrastructure Pipeline, Asset Monetization Plan and the Gati Shakti Plan," the Ministry of External Affairs informed in a statement.

The two leaders also discussed India-EU relations as well as cooperation on climate action and priorities at the upcoming COP26. They also exchanged views on regional and global issues of mutual interest including Afghanistan and the Indo-Pacific, the statement said.

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The National Infrastructure Pipeline (NIP) is a first-of-its-kind, whole-of-government exercise to provide world-class infrastructure to citizens and improve their quality of life, Invest India informed.

The project aims to improve project preparation and attract investments into infrastructure.

Besides, the Asset Monetisation Plan is concerned with shifting from 'privatization' and 'slump sale' of assets to 'structured partnerships' with the private sector within defined contractual frameworks, Niti Aayog informed.

Meanwhile, during the G20 Summit in Rome, PM Modi also attended the session on Climate Change and Environment.

Later today, Prime Minister is expected to hold a meeting with outgoing German Chancellor Angela Merkel. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)