Prime Minister Narendra Modi and Argentine President Javier Milei met in Buenos Aires on Saturday, July 5, 2025, agreeing to enhance collaboration across various sectors and diversify the trade basket between the two nations. The meeting, which included extensive discussions and a working lunch, signifies a renewed commitment to strengthen the strategic partnership between India and Argentina.
This marks the first bilateral visit by an Indian Prime Minister to Argentina in 57 years, although PM Modi had previously visited in 2018 for the G20 Summit. This visit underscores the strategic importance India places on its relationship with Argentina and its broader engagement with Latin America.
During their discussions, both leaders emphasized the need to expand and diversify bilateral trade. Trade between India and Argentina has seen a positive trajectory, with a 33% increase in 2024, reaching $5.23 billion. This makes India Argentina's fifth-largest trading partner. Argentina is a key supplier of soybean and sunflower oil to India, while India views Argentina as a significant source of rare earth minerals like lithium. Recognizing the immense potential for growth, PM Modi and President Milei explored opportunities in sectors such as pharmaceuticals and sports.
PM Modi also sought Argentina's support in expanding the India-MERCOSUR preferential trade agreement. He emphasized that this expansion could lead to mutual benefits and create new opportunities for both nations. Secretary (East) in the Ministry of External Affairs, Periasamy Kumaran, highlighted the agreement between the two leaders to enhance collaboration in trade and commerce, technology, defence, space, health, and pharmaceuticals.
Both leaders acknowledged the potential for increased cooperation in the defence sector, recognizing that it would serve their strategic interests. They also discussed India's strengths in the healthcare and pharmaceutical sectors, particularly its capacity to produce high-quality, affordable medicines. PM Modi raised the possibility of India being moved from Annex II to Annex I of Argentina's pharmaceutical regulatory framework, which would facilitate smoother entry of Indian medicines into the Argentinian market. The Argentinian side responded positively, stating they could provide fast-track approvals for the import of Indian medicines already cleared by the US Food and Drug Administration (FDA) or the European Medical Authority (EMA).
PM Modi expressed his gratitude to President Milei for Argentina's strong support and solidarity with India in its fight against terrorism. He also noted that the two countries are celebrating 75 years of diplomatic relations and 5 years since elevating their relationship to a Strategic Partnership. He expressed optimism about the future, stating that while significant progress has been made, the journey ahead holds even greater promise.
