A recent international conference at the University of Kerala focused on strengthening ties between India and Latin America, and highlighted the growing trade relationship between the two regions, with textiles playing a significant role. The conference, hosted by the Centre for Latin American Studies (CLAS), featured a panel discussion on “India-Latin America Business Prospects,” bringing together scholars, diplomats, and industry experts.
The discussion underscored the expanding multilateral trade relations, with a specific focus on the exchange of goods and services. Economist Pablo Kunik from Argentina highlighted the success of Indian companies in Latin American markets, particularly in Brazil and Mexico. Notably, he pointed to the robust bilateral trade between India and Argentina, which reached approximately $3.2 billion in 2023. This trade relationship sees India exporting a diverse range of products, including pharmaceuticals, automobiles, machinery, IT services and textiles, to Argentina. In return, Argentina exports agricultural products like soybeans and meat to India. This exchange of goods signifies a strengthening of economic ties, with textiles forming a crucial component of India’s export portfolio.
While the discussion covered diverse sectors like automotive, IT, and space research, the consistent presence of textiles as a key export from India to Latin America signals the potential for growth within this specific market. The conference reinforced the idea that this burgeoning partnership represents a new era of business between India and Latin America, with mutual benefits across various sectors, including the textile industry. The session was chaired by Godavarthi Venkata Srinivas, Additional Secretary of the Latin America and Caribbean Division in the Ministry of External Affairs.
