Jaishankar: India, Latin America Must Forge Closer Ties

External Affairs Minister S. Jaishankar called on India and Latin America and the Caribbean (LAC) to work together more, especially in agriculture, supply chain diversification, and resource partnership. In a speech at an event, he said that New Delhi’s overall ties with the region have been on a “new trajectory” for the past nine years and that the ties could be strengthened in many ways.

He said, “We need to make sure that distance is no longer a barrier to stronger ties.”

Jaishankar said that trade between the two countries had grown to almost USD 50 billion during the financial year 2022-23. He said this shows how strong and promising our economic partnership is.

He said that our relationships have changed in the nine years that Prime Minister Narendra Modi has been in charge.

Speaking on the subject of “Furthering Economic Partnerships for Shared and Sustained Growth” at the ninth CII India-LAC Conclave.

“We need to really step on the gas out here,” Jaishankar said, pointing out that there is a lot of room to improve trade and economic ties.

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About trade, he said that Indian companies invest around USD 15 billion in the LAC region.
The external affairs minister talked about India’s strong economic growth and said he hoped that Indian goods and services would help the rising middle class in Latin America and the Caribbean meet their “expectations, aspirations, and price points.”

He said that there is room for more cooperation in areas like agriculture, making sure that the supply chain is reliable, and sharing resources, among other things.