India enhances economic ties with Latin America at Raisina Dialogue

India is increasing its connection with Latin America, aiming for better economic cooperation and technology partnerships. Pabitra Margherita, India's Minister of State for External Affairs, shared this message during the Raisina Dialogue 2025 in New Delhi. Margherita emphasized India's goal of creating a fair global system. He mentioned that partnerships with countries from Latin America and the Caribbean (LAC) are essential for achieving this. He noted that these nations have an important role in India's international relations and share similar goals for a multipolar world. Following Prime Minister Narendra Modi's visit to Guyana for the second India-CARICOM summit, Margherita outlined plans for cooperation in many areas. These include agriculture, renewable energy, climate change, and trade. He mentioned his recent visits to The Bahamas, Barbados, and Nicaragua to advance these discussions. India's trade with LAC countries has shown strong growth. In the 2023-24 financial year, bilateral trade reached $35.73 billion. Margherita pointed out that India's economy complements that of LAC nations, where India can supply consumer products while importing natural resources and agricultural goods. He also highlighted a significant agreement with Argentina for lithium resources, which will help India diversify its energy sources. The collaboration in biofuels and ethanol production is opening new sustainable energy opportunities. Tech development in LAC is another focus area. Margherita mentioned projects like the International Solar Alliance and the increased use of India's Unified Payments Interface in countries like Trinidad and Tobago and plans for deployment in others. He noted funding for health care and infrastructure projects across several LAC nations. Cultural ties date back to the arrival of Indian workers in the Caribbean and remain strong today. Margherita emphasized the importance of engaging with Indian communities in the region and supporting educational programs for students from LAC nations. Looking forward, Margherita expressed optimism about future partnerships. He believes that with shared history and goals, cooperation between India and LAC will continue to strengthen.