India expands South American trade ties with Argentina, Brazil, and Chile

India is actively expanding its economic footprint across South America through strengthened trade ties with Argentina, Brazil, and Chile.

In Argentina, bilateral trade has exceeded $6.5 billion, growing at over 17% annually. Recent discussions focused on upgrading India’s pharmaceutical regulatory status to ease market access for Indian drugmakers. Additionally, India’s KABIL has completed the second phase of lithium drilling in the Catamarca region, a critical step for India’s electric vehicle supply chain.

With Brazil, India aims to increase bilateral trade to $30 billion by 2030. Key sectors for this expansion include pharmaceuticals, chemicals, and engineering goods. Both nations are also working to modernize the India-MERCOSUR preferential trade agreement.

Meanwhile, negotiations for the India-Chile Comprehensive Economic Partnership Agreement (CEPA) are underway, with a target to conclude by the end of the year to enhance cooperation in energy, minerals, and healthcare.