Speech by H.E. Mr. Ajaneesh Kumar, Ambassador of India to Argentina, on the occasion of the IABC Event at Bolsa de Cereales on 17 March 2026

Honorable Governor of the Province of Jujuy, His Excellency Carlos Sadir, 

His Excellency Ambassador Fernando Brun, Secretary for International Economic Relations,

Mr. Gustavo Idigoras, Executive Director of the IABC

Distinguished guests,

Distinguished members of the India–Argentina Business Council,

Esteemed business leaders,

Ladies and Gentlemen,

Good evening!

It is a pleasure to welcome you to Bolsa de Cereales for this important gathering of the India–Argentina Business Council.

I would like to extend a special greeting to Governor Sadir and Ambassador Brun, for joining us today. Your presence reflects the growing importance of the economic partnership between India and Argentina and the shared commitment to strengthening our bilateral ties.

It is a pleasure to meet with the members of the India–Argentina Business Council and to see such a distinguished group of leaders representing key sectors of both our economies.

India and Argentina enjoy a dynamic and expanding economic relationship. Today, bilateral trade is in the range of USD 6–7 billion annually, and India has become one of Argentina’s most important trading partner and export destination.

While our trade has grown significantly, we believe that the potential of this partnership is far greater than what we have achieved so far. Moreover, we see the trade deficit increasing with every passing year.

To unlock this potential, we must work together on several key areas.

First is market access. Both India and Argentina should continue working towards greater and more balanced access for our respective products and services. Expanding market access will allow companies in both countries to diversify trade and strengthen supply chains.

Second, we must address non-tariff barriers that often complicate trade flows. Reducing administrative and regulatory obstacles can significantly facilitate commerce and investment between our countries.

Third, we should make it easier for people to travel and do business. Business mobility is a critical element of modern economic cooperation. We should work toward more expeditious visa procedures, longer-term visas for businesspersons, and broader eligibility, for instance inclusion of Schengen and UK visa holders, to facilitate travel between India and Argentina.

Another important element is the trade framework between India and Mercosur. The Preferential Trade Agreement already provides a foundation for our trade relations. However, there is clear potential to expand the number of tariff lines with preferential treatment catering to the interest of either side by making the agreement more broad-based, dynamic and ambitious.

We should also work together to ensure that trade defense measures, including anti-dumping actions, are applied in a transparent, predictable, and fair manner, so they do not become unintended barriers to the natural growth of bilateral trade.

Alongside these policy improvements, there are also concrete sectors where India can contribute significantly to Argentina’s development and industrial growth.

India today is a major global supplier of organic and inorganic chemicals, which are essential inputs for many industries. While we see some items being imported, there remains good scope for amplification.

India is also one of the world’s leading producers of pharmaceuticals, medical devices, and healthcare disposables, offering high-quality and affordable solutions that can strengthen healthcare systems.

Another area of opportunity is defense products both kinetic and non-kinetic including technologies with civilian applications, where India has developed significant capabilities that can support infrastructure, logistics, and technological development.

In addition, India has strong experience in infrastructure development, including solutions for mining operations, energy projects, ports, and heavy machinery sectors that are particularly relevant for Argentina. 

Beyond goods, India has also emerged as a global leader in innovation, digital technology, and financial systems. Recently we had participation from 5 provinces in the AI Summit held in New Delhi, India.

One example is India’s Unified Payments Interface – UPI, one of the most advanced digital payment ecosystems in the world. Expanding cooperation in digital payments, fintech, and technology services could open new avenues of collaboration between our countries. 

Ladies and Gentlemen,

While governments can create the enabling framework, the private sector plays an important role in driving trade, investment, and innovation.

This is precisely why the India–Argentina Business Council is so important.

The Council should continue consolidating itself as a platform for collaboration, and concrete business initiatives between companies in both countries. This year the Embassy will be organising 2-3 important trade events in the coming months. We sincerely expect the IABC to collaborate with the Mission and facilitate the participation of its members, ensuring the success of the event. 

I would like to encourage all companies present today — and those who share an interest in the India–Argentina relationship — to join as members and actively participate in the activities of the IABC.

We must create more spaces for dialogue, more business meetings, and more trade and investment events that bring together entrepreneurs, investors, and policymakers.

Closer interaction between the private sector and government authorities will help us identify obstacles, propose solutions, and accelerate new opportunities.

India and Argentina are two large, dynamic economies with complementary strengths. In the coming days several meetings to enhance bilateral trade are in the pipeline.

If we continue to work together — governments, businesses, and institutions — we can elevate this partnership to a new level of economic cooperation. I conclude on this optimistic note.

Thank you very much!