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Latin America beckons India for investments

Latin America is on the fast track to progress. Gone are the days of banana republics and unstable political regimes or authoritarian rule or military dictatorships. Most of the prominent countries have come out of such a vice grip and emerged as vibrant economies beckoning the world to invest and trade with them. The BRICS summit in Brasilia some time ago under the leadership of the Brazilian President Dilma Roussef, opened the gateway of Latin America for the rest of the world.

India’s (former) Amabassador Pradip Kapur, told me: “Latin America is a gold mine and India needs to forge closer ties for enhancing trade and investments. There is stability and security of investments in the major South American countries. Distance is the only inhibiting factor  but with e commerce and e governance, this problem should be got over.” He helped the trade body in getting through to Latam countries for the conclave.

Commerce Minister Nirmala Sitharaman observed that it was time that the Indo Latam trade doubled to US $ 84 billion from the present US $ 42 billion. “The current bilateral trade volume in which Indian exports are about half of the total imports from the LAC region is not reflective of the potential which we could collectively achieve by broad-basing our trade and economic ties and by diversifying the basket of traded goods and services,” Sitharaman observed. 

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