PM Modi, Argentine President Milei agree to diversify bilateral trade basket

Prime Minister Narendra Modi and Argentina President Javier Milei agreed to diversify the Indian-Argentin trade basket on Saturday, July 5, 2025, and promised to expand cooperation in a series of critical fields such as defense, security, energy and minerals.

The two leaders emphasized the increase in defense cooperation between the two countries, as they will serve each other’s strategic interests in extensive talks.

Mr. Modi came to Buenos Aires on Friday, July 4, 2025, on a two -day journey on the third leg of his five -national round. Although Mr. Modi visited Argentina in 2018 to join the G20 Summit, it is the first bilateral visit to the South American country by an Indian Prime Minister after a 57 -year gap.

In his social media article, Mr. Modi said that he discussed ways to diversify his and President Milei’s trade ties and develop cooperation in sectors such as agriculture, defense, security and energy.

“There is a tremendous scope in areas such as medicine and sports,” he said.

The Prime Minister described his meeting with Mr. Milei as “perfect”.

X, “We mark the 75-year-old Indian-Armygentina diplomatic relations and 5 years after we raised our relationship to a strategic partnership. We have prepared an important ground in our bilateral relations, but we accept that the next journey is even more promising.”

Secretary (EAST) Ministry of Foreign Affairs Periasamy Kumararan, two leaders, trade and trade, technology, defense, space, health and pharmaceuticals, including various sectors in various sectors agreed to develop the cooperation of India-Argentin, he said.

Modi and Mr. Milei also agreed to deepen the strategic partnership, adding that they discussed the necessity of expanding and diversifying trade by adding.

At a press conference, Mr. Kumararan said that Prime Minister Modi was looking for the support of expanding the Indian-Mercosur trade agreement of Argentina and that he could deepen the trade ties between the two countries.

The Preferential Trade Agreement (PTA) aims to expand the economic bonds between the Mercosur block, including India and Argentina, Brazil, Paraguay and Uruguay.

Modi and Mr. Milei underlined the need to improve access to agricultural products in each other’s markets, and published instructions for the relevant authorities to establish a joint working group on agriculture.

The relationship between the two countries was promoted to the strategic partnership during February 2019 during the visit of Argentina President Mauricio Macri to India.

The two parties cooperate in various fields such as trade, defense, critical minerals, oil and gas, nuclear energy, agriculture, culture and technology.

India and Argentina have a significant cooperation in the mining resources sector, especially in lithium – a critical input for India’s green energy transition.

In August 2022, a agreement was signed on cooperation in the field of mineral resources. The first meeting of the joint working group established within the framework of MO was held in January.

India-Argentina bilateral trade is on an increase. The trade volume increased from 2019 to 2022 for more than three years and reached $ 6.4 billion in 2022.

In 2021 and 2022, India was the fourth largest trade partner in Argentina.

In 2024, the total annual bilateral trade between India and Argentina was 5.23 billion dollars and positioned India as the fifth largest trade partner and export target of Argentina.