Prime Minister Narendra Modi is in Argentina, marking the first bilateral visit by an Indian Prime Minister in 57 years. This visit, at the invitation of President Javier Milei, underscores India's commitment to strengthening ties with Latin America.
Upon arrival in Buenos Aires, PM Modi was warmly welcomed by the Indian community. The visit began with PM Modi paying respects to José de San Martín, a revered freedom fighter and national hero of Argentina, at the Plaza de San Martin. Following the tribute, PM Modi engaged in delegation-level talks with President Milei. The discussions aimed to review existing cooperation and explore avenues to enhance the India-Argentina partnership across various sectors. Key areas of focus include defense, agriculture, mining, oil and gas, renewable energy, trade and investment, and people-to-people ties.
India and Argentina established diplomatic relations in 1949, sharing anti-colonial values. As members of the Non-Aligned Movement (NAM), both countries championed sovereignty during the Cold War era. The relationship between the two countries was elevated to a Strategic Partnership in 2019, and they celebrated 75 years of diplomatic relations in 2024. Several events were organized during 2024 to commemorate the 75 years of the establishment of bilateral relations, culminating in the launch of a commemorative book titled "India-Argentina: 75 Años de Relaciones Diplomáticas" on December 19, 2024.
Bilateral trade between India and Argentina has seen impressive growth. In the first four months of 2025, trade experienced a resurgence, growing by 53.9% to a total value of USD 2,055.14 million. In 2024, bilateral trade rose by 33 percent, amounting to USD 5.23 billion. Argentina's exports to India include animal/vegetable fats and oils, ores, slag, ash, raw hides (excluding furskins), organic chemicals, and machines, engines, and pumps. India's exports to Argentina consist of petroleum oils, agrochemicals, yarn-fabric-madeups, organic chemicals, bulk drugs, and two-wheelers. Several Indian companies have established remote operations in Argentina, with a total investment of over USD 1.2 billion. Argentina's investment in India is approximately USD 120 million, with companies like Globant and OLX in IT services and TECHINT in the engineering sector.
Argentina is a key economic partner for India in Latin America and a collaborator within the G20. Argentina holds the world's second-largest shale gas reserves and fourth-largest shale oil reserves, making it a potentially important energy partner for India. The country's rich reserves of critical minerals, such as lithium and copper, complement India's growing need for these resources for its clean energy transition and industrial growth.
PM Modi's visit is expected to further strengthen the strategic partnership between India and Argentina and open new avenues for cooperation. These include trade and investment, health and pharmaceuticals, defense and security infrastructure, mining and mineral resources, agriculture and food security, green energy, ICT, digital innovation, disaster management, science and technology, education, and people-to-people linkages.
