Prime Minister Narendra Modi concluded a trail-blazing bilateral summit with the President of Argentina Javier Milei in another major development in the global outreach of India and the first visit by an Indian Prime Minister to Argentina after 57 years. The meeting of the top leaders focused on intensifying collaboration in such key strategic areas as trade, technology, medicine, energy, and space.
In terms of industry, the meeting is likely to open enormous possibilities to India pulling in pharma, clean energy and defence. India also showed off its well-developed pharmaceutical environment and advocated easier market entry. To that, Argentina has declared that it will accept imports of Indian drugs registered by the US FDA or European EMA and this will increase the exports of Indian pharma in Latin America.
Novel negotiations between India and MERCOSUR on preferential trade were also brought on the table by the leaders. Prime Minister Modi appealed to Argentina to join in expanding the pact, in order to capture the rising demand in the South American region.
It became an important theme jointly with energy and critical minerals, and Argentina has lithium, shale gas and oil deposits that can fit well with India clean energy plans.
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