 "Modi-Milei talks in Buenos Aires: India, Argentina to boost ties with diversification in trade. Image: X")
India and Argentina have agreed to deepen cooperation in key sectors such as critical minerals, defence manufacturing, space, shale gas, pharmaceuticals, digital health, telemedicine, information technology, and digital payments. The agreement came after wide-ranging talks between Prime Minister Narendra Modi and President Javier Milei in Buenos Aires on Saturday night.
This marks the first bilateral visit by an Indian Prime Minister to Argentina in 57 years. Modi had previously v isited the country in 2018 for the G20 Summit . He arrived in Buenos Aires earlier in the day and received a ceremonial welcome at Ezeiza International Airport.
The two leaders held delegation-level talks after Modi paid tribute to General Jose de San Martin, Argentina’s national hero. President Milei then hosted a lunch in his honour.
Officials said the two sides agreed to set up a joint working group on agriculture and explore cooperation in drones and defence manufacturing. India also offered to support the maintenance of Argentina’s military helicopter fleet and proposed several military platforms.
In trade, Modi called for Argentina’s support to expand the India-MERCOSUR trade agreement. MERCOSUR is a South American trade bloc comprising Argentina, Brazil, Paraguay, and Uruguay. India also pushed for greater market access for its pharmaceutical products, suggesting a regulatory upgrade from Annex II to Annex I in Argentina’s pharma classification system to ease entry.
Argentina, in turn, briefed the Indian side on its fast-track approval system for Indian medicines.
Digital cooperation was another key focus, with Modi highlighting the success of India’s Unified Payments Interface (UPI). President Milei expressed strong interest in adopting UPI, especially in terms of how it could help Argentina’s central bank manage monetary policy more effectively.
The two leaders also reviewed progress on cooperation in critical minerals like lithium—essential for India’s clean energy goals. A memorandum of understanding (MoU) was signed in August 2022, and the first joint working group meeting under this MoU took place in January.
India and Argentina elevated their relationship to a strategic partnership in 2019 during the visit of then-President Mauricio Macri to India.
Bilateral trade between the two countries has been growing steadily. Trade volume more than doubled from 2019 to 2022, peaking at $6.4 billion. In 2024, the total trade stood at $5.23 billion, making India Argentina’s fifth-largest trading partner.
Following the talks, Modi received the Key to the City of Buenos Aires from Mayor Jorge Macri.
In a post on X, Prime Minister Modi said, “Excellent meeting with President Javier Milei of Argentina. We are marking 75 years of India-Argentina diplomatic relations and 5 years since we elevated our relationship to a Strategic Partnership. We have covered significant ground, but we agree the journey ahead is even more promising!”