New Delhi, August 29: India and Argentina have taken significant steps to strengthen their economic and strategic relations. During the fourth meeting of the India-Argentina Joint Trade Committee (JTC) held in Buenos Aires, progress was reviewed on the roadmap established during Prime Minister Narendra Modi’s visit to Argentina in 2025. Both nations reiterated their commitment to expanding trade and investment cooperation.
According to the Ministry of Commerce and Industry, the meeting involved detailed discussions on investment opportunities in mining, energy, and infrastructure. Notably, the remarkable progress made by India’s state-owned company, Mineral Exploration Corporation Limited (MECL), in Argentina’s lithium sector was highlighted.
MECL’s lithium mining project in Catamarca province, which marks the first lithium mining initiative by an Indian company in Argentina, has completed its second phase of drilling. Additionally, new collaboration opportunities are being explored in the Salta and Jujuy provinces. This partnership in the lithium sector is expected to significantly support India’s electric vehicle and battery manufacturing strategy.
The meeting also noted positive developments for the Indian pharmaceutical industry. Argentina has committed to upgrading India from Annex-2 to Annex-1 under its pharmaceutical regulatory framework, aiming to reduce market entry barriers. This will facilitate easier access for Indian pharmaceutical companies to the Argentine market, enhancing the availability of affordable and quality medicines.
Both countries agreed to advance the agreement made in 2019 between Argentina’s National Administration of Drugs, Food and Medical Technology and India’s Central Drugs Standard Control Organization. This agreement emphasizes joint initiatives in areas such as Ayurveda and yoga.
Trade relations between India and Argentina continue to strengthen. In 2025, bilateral trade surpassed $6.5 billion, with an annual growth rate exceeding 17%. Consequently, India has become Argentina’s fifth-largest trading partner.
Progress has also been made in expanding market access in the agricultural sector. Technical discussions on health and plant hygiene standards have advanced, leading to positive steps for Indian agricultural products like onions, milk and dairy products, grapes, potatoes, bananas, and pulses to access the Argentine market.
The government believes this will provide new opportunities for Indian farmers and exporters, boost agricultural exports, and assist in achieving the ‘Developed India 2047’ goal.
The meeting identified aviation, space technology, telecommunications, and digital services as future areas for cooperation. Specifically, discussions focused on enhancing partnerships in sectors such as 5G, artificial intelligence (AI), and digital infrastructure.
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