Market of India

December, 2014

POLITICAL: India-Argentina Bilateral Relations

India-Argentina relations are cordial and encompass political, economic, scientific and technological cooperation including Antarctic research and cultural cooperation.

India opened a Trade Commission in Buenos Aires in 1943 and later converted it into an embassy in 1949. Argentina had established a consulate in Calcutta in the 1920s, which was transferred to Delhi as an embassy in 1950. Argentina opened a Consulate General office in Mumbai in April 2009. Mr. Sergio Suarez has been appointed Honorary Consul General of India in the Argentine province of Cordoba.

The 4th India- Argentina Joint Commission Meeting (JCM) was held in New Delhi in June 2013. The 4th Foreign Office Consultation led by Shri Dinkar Khullar, Secretary (West) was held in April 2014.

Bilateral Agreements

Framework Agreement on cooperation in the Peaceful uses of Outer 2009
MOU between SEGEMAR of Argentina and Geological Survey of India. 2009
Programme of Cooperation in Science & Technology 2009
MOU on sports cooperation 2009
MOU  Trade Promotion 2009
MOU between INTI of Argentina and National Research Development  Council  Corporation, New Delhi 2009
MOU on cooperation in the petroleum sector between ONGC Videsh Ltd (OVL) and ENARSA of Argentina 2009
Cooperation Agreement between the Argentine Council on Scientific and Technical Research [CONICET] and the Council for Scientific and Industrial Research of India (CSIR) 2009
Agreement providing for 5-year multiple entry free  business visas 2009
Agreement for cooperation in the Peaceful Uses of Nuclear Energy 2009
Agreement on Exchange of information and assistance on Tax issues 2011
Customs agreement 2011
MoU for Cooperation in Agriculture and Allied Sectors 2010
MoU for Cooperation in Agricultural Research and Education 2006
BIPPA Agreement 1999, effective from 2002
MOU on Antarctic Cooperation 1998 renewed in 2006
Agreement for exemption of Visas for holders of Diplomatic and Official  Passports 1994
MOU on Foreign Office Consultations 1994
Agreement for Grant of three years´ Business visa 1993
Agreement on Technical and Scientific Cooperation 1985
Cultural Agreement 1974
Agreement for waiver of fee for tourist and transit visas 1968

Technical Co-operation and Training

            India gives 20 ITEC scholarships to Argentine candidates every year. Argentine diplomats attend the courses at the Foreign Service Training Institute of India from time to time.

COMMERCIAL: Bilateral Trade       (US $ million)  

Bilateral trade for the last 6 years is as follows:

Year 2008 2009 2010 2011 2012   2013 2014 Jan-Oct.
India’s exports 492 342 496 560 574 696 520
India’s imports 836 876 2032 1214 1264 1105 1610

India´s exports to Argentina

Organic Chemicals, Vehicles and Auto parts, Lubricants, Machinery, Sound and Image Devices and Garments, among others.

India´s imports from Argentina

Soybean oil, Petroleum, Copper, Sunflower oil, Leather, Wool, Ferroalloys among others.

Investments, Joint Ventures and Business Delegations

            Almost thirteen Indian Companies have established operations in Argentina with investment totaling to USD 930 million. Indian companies include TCS, CRISIL, Bajaj, Cellent, Cognizant Technologies, United Phosphorus Ltd (UPL), Sintesis Quimica, Glenmark, Godrej etc. Argentinian investment in India stands at USD 120 million. TECHINT, which is one of the largest seamless steel tubes manufacturers in the world, has offices in Delhi employing about 200 people.

           ONGC (OVL) has signed a MoU with ENARSA, their Argentine counterpart for possible joint ventures in Argentina for oil exploration. Indian company, Sonalika Pvt. Ltd. has signed a joint venture with Argentina company Apache of Santa Fe for manufacturing tractors and Indian Bajaj motorbikes has signed a joint venture with Corven Argentina to produce and sell motorbikes in the local market. During 2014, IMPLATEC Argentina developed a strategic alliance with the Indian company APPASAMY ASSOCIATES, a global leader in the ophthalmological market and both companies have inaugurated the first producing plant of intraocular lenses in Argentina with a manufacturing capacity of 20,000 lenses monthly. Halal India and Halal Argentina have started a joint venture for production and exportation of halal meat. Ishka Renewable Farms Private Lt from Kerala signed a joint venture with Cooperative Al Caparras to cultivate 1000 acres of capers in the next 10 years in the Argentine province of Santiago del Estero Argentina.

Regional Action Plan

            A unique Regional Action Plan, was started in August 2012, to promote India´s commercial and economic interests in Argentina. Under the Plan, the provinces of San Juan, Cordoba, Mendoza, San Luis, Neuquén, Catamarca, Salta, Santa Fe, Entre Rios etc have been covered in the last year and the Ambassador has addressed various business seminars and interacted with regional leaders of trade and industry, looking for prospects for boosting trade relations. Governors and business delegations from various provinces have visited India since the initiation of the plan.

            A Memorandum of Understanding was signed with the City Government of Tandil, Province of Buenos Aires in Dec. 2014 to harness the vast scale of complementarities offered by India and Argentina and to exchange information regularly on commerce, trade and technological cooperation.



The Embassy has been organizing cultural programmes and visits of Indian troupes from time to time. While the proposal for the setting up of an Indian Cultural Centre in Buenos Aires has been approved by the Government of India, it is yet to take concrete shape due to paucity of resources. Also, India and Argentina are in the process of negotiating a formal Cultural Exchange Programme, soon. The Sixth edition of the Festival of India was held between 14 and 24 November 2014 which included more than 40 cultural events and 40 stands of Indian handicrafts and textiles by Export Promotion Council of India. Three renowned artists from India of Indian dance and music were invited by the mission for performances during the Festival. Six performances by a 5 member group of Rabab musicians from Kashmir were also organised in various provinces of Argentina. In addition India weeks and days were organised in different Argentine cities such as San Salvador de Jujuy, Almirante Brown, Tandil, Parana, Rio Cuarto among others. Indian Food Festivals were also organised in Buenos Aires and other cities.

 Indian Community:

                       There are about 200 Indians in Buenos Aires of which half are those settled for over thirty years. Most of these are from the Sindhi community. Others are professionals working with thirteen Indian companies and multinational corporations like TCS, Cognizant Technologies etc. About 300 Sikhs from Punjab have settled down in Salta province in the course of the early and mid twentieth century. Now, with families they number around 2000 persons. They have become Argentine citizens and are well assimilated in the local population. Most of them are in retail and wholesale trade.  The first generation immigrants speak Punjabi. There is a Gurudwara in the town Rosario de la Frontera, where they celebrate Guru Nanak Day every year. President Zail Singh had visited the Gurudwara in 1984.