India is expanding its relations with Latin America
India’s Foreign Minister, Subrahmanyam Jaishankar, has declared the country’s intention to enhance its presence in Latin America and the Caribbean.
This initiative aims to expand relations through diversifying supply chains, resource partnerships, development collaboration, and joint efforts to address global challenges such as climate change and food insecurity.
During the ninth edition of the conclave between India and Latin America, and the Caribbean (India-LAC), Jaishankar presented the four pillars of this roadmap.
He also expressed willingness to facilitate citizen mobility and announced an upcoming visit to Cuba.
The bilateral trade between India and the region reached US$50 billion during the last fiscal year 2022-2023.
India’s exports to countries like Brazil and Mexico are significant, surpassing exports to Japan and Canada respectively.
Indian companies have invested around US$15 billion in the region, reflecting growing interest.
As the current G20 president, India aims to be a leading voice for the development of emerging economies and seeks changes within multilateral organizations.
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