Ways to boost trade ties were the dominant theme during talks on Saturday as President Javier Milei hosted Indian Prime Minister Narendra Modi at the Casa Rosada.
Modi, 74, urged the expansion of New Delhi's preferential trade deal with South America's Mercosur bloc during his visit – the first by a sitting Indian head of state to Buenos Aires since 1968.
“President Milei and I discussed ways to diversify trade ties, cooperation in agriculture, defence, security, energy and more. There is immense scope in areas like pharmaceuticals and sports as well,” the Indian leader said in a post on social media.
The bilateral talks in Buenos Aires was the latest stop on Modi's whistlestop diplomatic tour, culminating in the summit of BRICS emerging economies starting on Sunday in Brazil.
Diplomats from both countries at the meeting, which included lunch, decided to "deepen bilateral relations and commercial ties," according to a statement from Argentina's Presidency.
Indian foreign ministry diplomat Periasamy Kumaran told reporters Modi "requested Argentina's support in expanding the India-Mercosur preferential trade agreement."
The Mercosur regional trade bloc, comprising Argentina, Bolivia, Brazil, Paraguay and Uruguay, is seeking closer ties with Asian economies in the face of US President Donald Trump's global trade war.
"The two leaders discussed the necessity of diversifying and expanding bilateral trade" in sectors including defence, technology and health, said Kumaran.
They also touched upon cooperation in the energy sector, including gas and petrol, as well as lithium, a key mineral for the clean energy transition.
Argentina is the world's fifth-largest producer of lithium, according to the US Geological Survey.
The visit generated high expectations in Argentina, especially in the nation’s agricultural and mining sectors. The Casa Rosada believes links with India have high strategic value.
"Excellent meeting with President Javier Milei of Argentina," Modi wrote on X of the leaders' second bilateral talks.
“We are marking 75 years of India-Argentina diplomatic relations and five years since we elevated our relationship to a Strategic Partnership. We have covered significant ground in our bilateral relations, but we agree that the journey ahead is even more promising!"
India was Argentina's fifth largest trading partner in 2024, with bilateral trade up 33 percent to US$5.23 billion, according to figures from the Indian External Affairs Ministry.
Modi arrived in Argentina on Friday evening and was welcomed by the local Indian community.
Before his meeting with Milei, he laid a wreath at the statue of Argentina's national hero José de San Martín.
In the afternoon, he visited the Mahatma Gandhi monument in the Palermo neighbourhood of the capital, later receiving the freedom of the city from Buenos Aires City Mayor Jorge Macri.
– TIMES/AFP/NA
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