Not only this, PM Modi reached Argentina after 57 years, the business of 44 thousand crores is monitored

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Prime Minister Narendra Modi arrived at Argentina on Saturday for the third phase of his visit to his five countries. The visit to Buenos Aires on July 4-5 is a symbol of an important diplomatic connection between India and Argentina. This is the first bilateral visit of an Indian Prime Minister in the South American nation since Indira Gandhi’s visit in 1968. This journey is taking place at a time when the two countries are trying to deepen cooperation in energy, important minerals, defense and business, as well as confirming a common stand against terrorism. This is happening before the BRICS summit in Brazil.

On the other hand, the bilateral trade of India and Argentina is also not less. Argentina has been one of the bigd oil suppliers for India. In 2022, the bilateral trade of both countries reached peak with more than $ 6 billion. The special thing is that in the year 2025, in the initial months, the trade of both countries has gone above $ 2 billion. Let us also tell you why Argentina’s visit to PM Modi is considered important?

Strategic minerals, energy and balanced trade equations

Argentina’s huge reserves of lithium, copper and shell gas have emerged as a major area of ​​interest for India. Lithium, in particular, is required for India’s clean energy ambitions that are used in batteries for electric vehicles and grid storage and are part of the lithium triangle with Argentina Bolivia and Chile. The Indian state -backed firm Kabil (Khanij Bidesh India Limited) has already acquired the rights of lithium exploration in Argentina’s Catamarca province and is expected to make further announcements during the journey.

Beyond the minerals, Argentina’s growing potential in LNG and its unused shell energy resources, the second largest shell gas reserves in the world, are now attracting the attention of New Delhi. Along with facing the instability of traditional suppliers in the Gulf, the Modi government is thinking of diversifying its energy sources and Argentina LNG is part of that equation. Buenos Aires has shown interest in expanding LNG exports and attracting Indian investment in upstream sectors.

Trade relations increased by moving beyond edible oils

Bilateral trade between India and Argentina crossed US $ 5.2 billion in 2024, with India now joined the top 6 trading partners in Argentina. While trade baskets have historically focused on edible oils, especially soybean oil. Now interest in moving beyond agriculture is increasing. Argentina wants to import Indian pharmaceuticals, medical equipment and IT services, while New Delhi is emphasizing on the agricultural markets of Argentina for fruits, vegetables, dairy and grains. Both sides are expected to review the trade imbalance and consider measures to improve two-way market access. Argentina President Xavier Miley, who took over in December 2023, has indicated openness for an economic partnership beyond the West. Argentina’s role is important, with India pressurizing to revive trade talks with Mercosur.

Defense, space and technical cooperation

This journey is also expected to expand the discussions on defense cooperation. Still in the early phase, Argentina has shown interest in defense systems manufactured by India, including Tejas Lightly fighter aircraft. The talks may include joint training, co-production and technology transfer. In addition, Indian officials have confirmed that Digital Public Infra and Telemedicine are also areas where cooperation can be increased. Argentina is said to be eager to learn from India’s experience in starting a large scale digital governance platform and affordable healthcare distribution model. Space and satellite technology is also being discussed. The Indian Space Research Organization (ISRO) and the Conae Space Agency of Argentina have worked together before, and the two sides see this journey as an opportunity to formal support for future.

Bilateral trade of both countries

According to data from the Ministry of External Affairs, the Bilateral Trade of the two countries exceeded double in three years from 2019 to 2022, which was on peak in 2022 with US $ 6.4 billion. In both 2021 and 2022, India was the fourth largest trading partner in Argentina. Argentina is one of the primary supplier of edible oils, especially soybean oil to India. However, due to the severe drought in Argentina, the Indo-Argentina Baileral Trade faced significant challenges in 2023 and fell by 39 per cent to US $ 3.9 billion.

In 2024, with better weather conditions under the new government and more stable economy, the trade re -achieved its pace, increased by 33 per cent to US $ 5.2 billion. The Indo-Argentina trade has seen an increase of 53.9 per cent in the bilateral trade of the two countries in the early months of 2025. The special thing is that during this period the trade between the two countries stood at US $ 2,055.14 million. India is considered to be Argentina’s fourth largest trading partner and export destination.

Export and import with Argentina

Major items of India’s export to Argentina include petroleum oil, agricultural chemicals, yarn-fibric-maidup, organic chemicals, wholesale medicines and two-wheelers. The major items of India’s imports from Argentina include vegetable oil (soybean and sunflowers), finished leather, grains, residual chemicals and affiliated products and pulses. Many Indian companies include a total investment of more than US $ 1.2 billion, including MPesis (most recent), TCS, Comviviva, Infosys, AEGIS-Sessar, CRISIL, UPL, Advanta Seeds, Bajaj Motorcycle, TVS, Royal Enfield, Hero Motors, Glenmark, Godrez and Sri Sri Vitas. Argentina’s investment in India is around US $ 120 million, with globant and OLX in IT services and techints in the engineering sector.

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