Prime Minister Narendra Modi recently concluded a significant visit to Buenos Aires, Argentina, where he engaged in extensive discussions with Argentine President Javier Milei. This visit, part of PM Modi's five-nation tour, marks a crucial step in strengthening the strategic partnership between India and Argentina.
The two leaders explored opportunities to enhance cooperation across various sectors, including defense, agriculture, mining, oil and gas, renewable energy, trade, and investment. Both Modi and Milei expressed optimism about the future of India-Argentina relations, emphasizing the potential for growth and collaboration.
During their meeting, Modi and President Milei agreed to diversify trade ties and enhance collaboration across sectors like agriculture, defense, security, and energy. Modi highlighted the immense scope for cooperation in pharmaceuticals and sports. The Ministry of External Affairs (MEA) stated that the two leaders agreed to enhance collaboration across a range of sectors, including trade and commerce.
PM Modi's visit, the first bilateral visit by an Indian Prime Minister in 57 years, underscores the importance both nations place on their relationship. Upon arrival in Buenos Aires, Modi paid tribute to Jose de San Martin, a revered figure in Argentine history, at the San Martin Memorial. San Martin played a crucial role in Argentina's independence and is considered a national hero.
India and Argentina share a robust multifaceted relationship, with cooperation spanning political, economic, defense, mining, cultural, scientific, and technological domains. The two countries have a history of strong bilateral relations, with India opening a Trade Commission in Buenos Aires in 1943, which later became one of India's first embassies in South America in 1949. Argentina established a consulate in Kolkata in the 1920s, which was moved to Delhi as an embassy in 1950.
Economic ties between India and Argentina have seen substantial growth. Bilateral trade more than doubled between 2019 and 2022, reaching USD 6.4 billion in 2022. Although trade faced challenges in 2023 due to drought in Argentina, it rebounded in 2024, increasing by 33% to USD 5.2 billion. In the first four months of 2025, trade experienced a resurgence, growing by 53.9%. India is currently Argentina's fourth-largest trading partner. Key exports from India to Argentina include petroleum oils, agrochemicals, yarn fabric, organic chemicals, and two-wheelers.
A significant area of potential collaboration lies in the energy sector. Argentina holds the world's second-largest shale gas reserves and fourth-largest shale oil reserves, positioning it as a potential long-term energy partner for India. Both countries are also focusing on mineral resources, especially lithium, which is crucial for India's green energy transition. An MoU on mineral resource cooperation was signed in August 2022, and the first meeting of the joint working group was held in January 2025.
PM Modi extended an invitation to President Milei to visit India, suggesting a visit to the lion sanctuary in Gujarat. This reflects the personal connection and mutual respect between the two leaders, setting a positive tone for future cooperation.
The discussions between PM Modi and President Milei signal a promising future for India-Argentina relations, with both countries committed to strengthening their strategic partnership and exploring new avenues for collaboration across various sectors.
