Argentina is the fifth largest destination for India’s export in Latin America and second largest source of import (after Brazil) from that region. In order to discuss potential to enhance this commercial relation, H.E. Mr. Hugo Gobbi, Ambassador of Argentina to India paid a courtesy visit to World Trade Center Mumbai. Mr. Gobbi had an informal meeting with senior functionaries of WTC Mumbai to deliberate on the recent trend in commercial relations and the way forward.

The meeting was attended by Mr. Vijay Kalantri, Chairman, Ms. Rupa Naik, Executive Director and other senior officials of WTC Mumbai. Mr. Guillermo Devoto, Consul General of Argentina in Mumbai and some members of trade & industry also joined the event.

Speaking on this occasion, Mr. Gobbi pointed out that both the countries can collaborate in six major sectors, including mining, agriculture, information technology, space technology and tourism. He remarked, “Argentina has unexplored reserves of minerals such as copper, lithium, uranium, gold, silver etc., which can be mined to meet the growing industrial demand in India. India’s growing electric vehicle industry can source copper and lithium from Argentina. We welcome Indian companies to explore our mines as we have an open mining policy with 95% of miners from private sector.”

Mr. Gobbi added, “Indian farmers can increase their crop productivity by 10-20% by collaborating with their counterparts in Argentina. In the IT sector, the Argentine company Globant is a major investor in India employing 2,500 engineers. Argentina has a mature IT sector as it is home to the second largest number of start-up unicorns (11 unicorns) after Brazil in the Latin American region. Argentina is blessed with incredible natural beauty in the form of greenery, glaciers, mountains and waterfalls, which is conducive for tourism.”

Earlier in his welcome remarks, Mr. Vijay Kalantri said, “Argentina can be a gateway for Indian exporters to the MERCOSUR region and also to the entire Latin American continent. Distance and cost of shipping are major barriers in enhancing our bilateral trade. Currently, bilateral trade is in favour of Argentina, with India importing USD 2.6 billion worth of goods and exporting hardly USD 687 million worth of goods to this Latin American country. We can balance this trade if our government can subsidise shipping cost for exports to Argentina.”

Mr. Kalantri assured the Ambassador of all possible support to promote mutual cooperation in mining, tourism, agriculture and other potential areas.

Ms. Rupa Naik proposed vote of thanks for the event.

In Photo (L-R) H. E. Hugo Gobbi, Ambassador of Argentina to India with Dr. Vijay Kalantri, Chairman, WTC Mumbai