President Javier Milei hosted Indian Prime Minister Narendra Modi at his office at the Casa Rosada, the second bilateral meeting between the two leaders.
Modi arrived in Buenos Aires late on Friday, before heading to Brazil for a BRICS summit in Rio de Janeiro. He previously met Milei at the G20 Leaders Summit in the same city last year.
Announcing his visit on social media, he wrote: “I have landed in Buenos Aires for a bilateral visit focused on strengthening ties with Argentina.” He added: “I look forward to meeting President Javier Milei and engaging in detailed discussions with him.”
The Milei–Modi encounter marks the first formal bilateral meeting between leaders of the two nations on Argentine soil since 1968, when Indira Gandhi was received by de facto president Juan Carlos Onganía.
Saturday’s official programme began at 11am with Modi laying a floral tribute at the monument to General José de San Martín in Plaza San Martín. The bilateral meeting at the Casa Rosada followed.
Talks focused on trade in strategic sectors including agriculture, lithium, energy and nuclear power. Also in attendance were Presidential Chief-of-Staff Karina Milei and Foreign Minister Gerardo Werthein.
Officials from both governments see potential for deeper cooperation in key areas such as energy, defence, trade and culture.
India is the fifth-largest economy globally, with strong prospects for sustained growth. In 2024, it ranked as Argentina's fifth-largest export destination.
According to data from the Rosario Board of Trade, India was the main buyer of Argentine soy oil between 2018 and 2023, accounting for 48 percent of total exports in that category. It also purchased 30 percent of Argentina’s sunflower oil exports over the same period, making it the top destination for both products. In total, more than 84 percent of Argentina’s exports to India during those six years were vegetable oils.
Bilateral trade between the two countries currently stands at around US$5 billion, with a strongly positive balance for Argentina. Industry sources say there is significant room to grow, particularly if a free-trade agreement can be reached between India and Mercosur. Exporters say such a deal could lead to more oilseed shipments and allow new products like maize and soymeal to enter the Indian market.
“Our bilateral trade has grown enormously. Ninety-five percent of Argentina’s exports to India are soy oil, with strong growth in sunflower oil,” a spokesperson for the CIARA oilseed industry chamber (Cámara de la Industria Aceitera de la República Argentina) told Perfil.
Beyond vegetable oils, Argentina also exports gold to India. While Switzerland and the United States remain the top buyers, India ranked third in 2023, taking in 13.1 percent of Argentina’s gold exports. That year, boosted by record global prices, Argentina exported US$2.299 billion worth of gold – more than half of it from Santa Cruz Province.
Officials and analysts on both sides see the potential for a deeper strategic partnership. For Argentina, India represents a stable and expanding market for key exports like lithium, copper, gold and agricultural products.
– TIMES/PERFIL
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