As the global order transitions right into a multipolar framework, india's financial engagement with latin america, specially brazil and argentina, is rising as a cornerstone for advancing south-south cooperation.

Those relationships pass past exchange records and diplomatic overtures; they symbolise a shared commitment to sustainable growth, technological development, and equitable improvement. At mahindra, we view this as a transformative opportunity in which innovation, business, and motive come together to create meaningful change.

The economic landscape:

India-argentina bilateral cooperation has visible brilliant increase in current years. Exchange among the 2 international locations peaked at usd 6.4 billion in 2022, with india emerging as argentina's fourth-largest trading companion. In 2024, annual bilateral change rose by using 33% to usd 5.23 billion, similarly solidifying india's function as a key export vacation spot for argentina.

Argentina is a primary provider of edible oils to india, with vegetable oils constituting over 80% of its exports. However, the connection extends a ways beyond agricultural commodities, encompassing sectors like prescription drugs, chemical compounds, and textiles. With cumulative indian funding in argentina nearing usd 1.2 billion, and argentine investments in india totaling usd one hundred twenty million, the economic ties between the 2 countries are poised to deepen in addition.

Brazil remains india's largest trading associate in south the united states, with bilateral change reaching usd 12.2 billion in 2024-25. indian investments in brazil exceed usd 6 billion, spanning sectors like pharma, vehicles, and electricity. Brazilian investments in india, in the meantime, recognition on mining, steel, and bio-electricity.

Defence cooperation is a standout thing of this dating, underscored with the aid of joint development projects like airborne warning and manage gadget (awacs) plane and the c-390 millennium shipping plane. Brazil's management in biofuels, coupled with india's engineering prowess, sets the degree for transformative partnerships in renewable strength.

Opportunities in pharma, it, fitness, car, and production

The synergies between india and latin the us are specially suggested in sectors along with pharmaceuticals, records era, healthcare, automobile, and production.

Pharma and healthcare

India's pharmaceutical enterprise, renowned for its understanding in generating affordable generics, is uniquely located to make a contribution to latin the us's healthcare panorama. Regulatory alignment and increasing call for for fee-powerful drug treatments offer indian agencies a hazard to enhance public health get right of entry to in brazil and argentina. With the aid of leveraging india's strengths in pharmaceutical research and development (r&d) and manufacturing, these countries can scale their healthcare systems to deliver better outcomes for their populations.

It and virtual governance

India's virtual transformation journey, epitomised via the india stack - a set of open-supply virtual public goods like aadhaar, upi, and digilocker, affords precious lessons for latin america. These systems have revolutionised service transport for hundreds of thousands in india, supplying scalable templates for monetary inclusion, e-governance, and virtual identity. Collaborations with brazilian and argentine institutions ought to co-increase frameworks tailored to neighborhood wishes, enabling governments to empower citizens at remarkable stages.

Car and manufacturing

The automotive and production sectors gift fertile floor for joint ventures and co-funding. Brazil's mature automotive environment and argentina's openness to business collaboration create best conditions for indian automakers to installation nearby meeting gadgets and deepen industrial partnerships. Mahindra's memorandum of expertise (mou) with brazil's embraer at the c-390 millennium shipping plane exemplifies the potential for defence-commercial cooperation that extends to civilian manufacturing as nicely.

Defence exports and strategic collaborations

Defence cooperation among india and latin the us is gaining momentum, pushed by using mutual consider and alignment in abilties.

Brazil's embraer has mounted a subsidiary in new delhi, signalling the seriousness of bilateral partnerships in aerospace and defence. indian defence exports, including indigenous solutions for awacs structures and delivery plane, provide both strategic autonomy and opportunities to foster innovation ecosystems in each areas. argentina, too, offers avenues for defence technology partnerships in regions like surveillance, maritime logistics, and shared security. These collaborations no longer only strengthen bilateral ties but also enhance nearby stability inside the southern hemisphere.

Minerals, energy, and the green transition

India's engagement with brazil and argentina is underpinned via a shared dedication to a greener, more resilient destiny.

Important minerals and rare earths

Argentina has emerged as a key associate in india's quest for important minerals, particularly lithium, that is important for electric cars and energy storage systems. The mou on mineral cooperation signed in august 2022 laid the muse for strategic collaboration in this zone. The joint running organization meeting in january 2025 similarly solidified this alliance, paving the way for equitable partnerships throughout the extraction, processing, and battery fee chains.

India have to technique argentina now not merely as a customer but as a co-investor and generation companion, sharing understanding in sustainable mining and refining practices. Those minerals are vital for india's inexperienced power transition and its broader objectives to reap net-0 emissions.

Energy safety

India's developing power urge for food necessitates diversification of supply sources, making argentina and rising manufacturers like guyana essential allies. indian public area undertakings have already invested over usd 3 billion in brazil's oil and fuel belongings. The following step includes deepening those partnerships through joint r&d, lengthy-term contracts, and incorporated value chains that make certain predictability and resilience.

Renewable electricity and biofuels

Brazil is a global leader in biofuels, making it a useful companion for india's renewable electricity ambitions. As a co-founding father of the worldwide biofuels alliance, brazil offers information in scaling green gas answers, specially sustainable ethanol production for aviation and transport. Collaborative tasks that combine indian engineering with brazilian bio-innovation may want to redefine worldwide standards for clean power and sustainable mobility.

The manner ahead: building south-south 2.0

The time is ripe for a re-imagined model of south-south cooperation --- one that is modern, equitable, and values-pushed. india, brazil, and argentina are herbal collaborators in realizing this imaginative and prescient.

To gain this, we need bilateral innovation budget to aid startups and r&d partnerships; ease of funding frameworks that fast-track approvals and defend investor self belief; and people-to-people bridges inclusive of youngsters and academic alternate packages to build accept as true with past boardrooms.

At mahindra, we're dedicated to main this fee. Whether or not it's sustainable agriculture, systems for virtual governance, or subsequent-generation shipping answers, we view latin the us not merely as a marketplace but as a partner in development.

As india trips toward amrit kaal --- the imaginative and prescient of turning into a developed kingdom by means of 2047 --- its outside partnerships will play a defining position in shaping inner success. In brazil and argentina, we discover kindred nations geared up to co-write the next bankruptcy of prosperity, progress, and planet-wonderful increase.

Anish shah is the handling director and chief executive officer (ceo) of mahindra organization. The perspectives expressed are non-public.

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