Experts Urge Stronger India–South America Industry Ties

• Push for India–South America industry partnerships.
• Focus on minerals, tech, energy, and agri sectors.
• CEPA talks and trade facilitation urged.

Industry​‍​‌‍​‍‌​‍​‌‍​‍‌ and diplomatic experts have pointed out that stronger industry collaborations between India and the South American countries will be of great economic and strategic value. India is engaging with the region and businesses along with the policymakers of both sides are willing to take advantage of the trade, technology, resources, and investment which are the areas of their complementary strengths.

K. M. Praphullachandra Sharma, Joint Secretary for South America at India’s Ministry of External Affairs, mentioned that political trust, better trade connectivity, and cooperation in critical minerals and technology are the main factors which contribute the most to expanding economic relations. A number of South American diplomats also shared that their countries are ready to welcome Indian investment and create partnerships in such sectors as clean energy, fintech, pharmaceuticals, and agriculture.

Chile’s Ambassador talked about the great opportunities that exist in minerals, green hydrogen, and innovation, and he was referring to the ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA) that could help deepen trade cooperation. Guyana’s diplomat talked about his country’s diverse economy and the discovery of energy sources has made room for Indian interests in agro-processing, renewable energy, healthcare, tourism, and infrastructure.

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Representatives from Venezuela, Peru, Colombia, and Ecuador also talked about the unique competitive advantages that their countries have in the areas of oil and gas, agri-exports, minerals, manufacturing, and digital services. The industry leaders said that India’s manufacturing base and digital capabilities are a good match for South America’s resources and growth ambitions.

Nishant Berlia, Chair of the International Affairs Committee (Americas), mentioned that the South American market which is worth USD 4 trillion and the region which has a population of over 430 million make it a strategically important partner for Indian firms. Corporate executives called for the removing of obstacles to trade facilitation, investment frameworks, and logistics as these steps would be the means by which diplomatic goodwill can be converted into tangible economic outcomes.

Among other things, the organisations like PHDCCI (PHD Chamber of Commerce and Industry) have pledged at the conclave to support trade missions, facilitate investment partnerships, and be a bridge for bilateral dialogue in going from the private sectors of India and South America to real business ​‍​‌‍​‍‌​‍​‌‍​‍‌collaborations.