India-Latin America trade and collaboration prospects

A panel discussion on ‘India-Latin America Business Prospects’ was held at the University of Kerala on Friday as part of the Centre for Latin American Studies (CLAS) international conference on the topic ‘Partners in Progress: Enhancing Synergies and Complementarities between India and Latin America’.

The session saw a convergence of scholars, diplomats, and experts in the field of India-Latin America relations, who shared their insights on the growing trade and business prospects between the regions.

Pablo Kunik, an economist from Argentina, opened the discussion by providing an overview of the expanding multilateral trade relations between India and Latin America. He highlighted the success of Indian companies such as Tata Motors and Mahindra in Latin American markets, especially Brazil and Mexico.

Dr. Kunik focused on the bilateral trade between India and Argentina, observing that trade had surged to approximately $3.2 billion in 2023. India exports pharmaceuticals, automobiles, textiles, machinery and IT services to Argentina, while Argentina sends agricultural products, including soybeans and meat to India.

G. Levin, chief executive officer of K-Space, spoke about the potential for India’s collaboration with Latin American countries, especially in space research. Highlighting the advantages of Latin America’s proximity to the equator, Mr. Levin emphasised how the Indian Space Research Organisation could extend its services to Latin America, further strengthening the region’s space capabilities.

Former diplomat R. Viswanathan, a Latin America expert and CLAS executive council member, also shared success stories of Indian companies in Latin America, such as Tata Consultancy Services (TCS) in Uruguay, and stressed the growing economic collaboration. He noted that such partnerships represent a new paradigm of business between India and Latin America, benefiting both regions in numerous sectors, including IT, energy and manufacturing.

Godavarthi Venkata Srinivas, Additional Secretary of the Latin America and Caribbean Division in the Ministry of External Affairs chaired the session.