Indian Economy News

Commerce Secretary Mr. Rajesh Agrawal leads 4th India-Argentina JTC meeting; both sides reaffirm commitment to deepen strategic and economic partnership

The Fourth Meeting of the India-Argentina Joint Trade Committee (JTC) was held on August 24, 2026, in Buenos Aires, with Commerce Secretary Mr. Rajesh Agrawal leading the Indian delegation. Both sides reviewed progress on the roadmap agreed during Prime Minister Mr. Narendra Modi’s visit to Argentina in 2025 and reaffirmed their commitment to deepening the strategic and economic partnership. Bilateral trade crossed Rs. 56,205.5 crore (US$ 6.50 billion) in 2025, registering annual growth of more than 17%, with India emerging as Argentina’s fifth-largest trading partner. Discussions covered investment opportunities in mining, energy and infrastructure, including the continued engagement of KABIL in Argentina’s lithium sector. KABIL has completed Phase II drilling for its first lithium mining initiative in Catamarca, while further opportunities in Salta and Jujuy are being explored. Both sides also advanced discussions on sanitary and phytosanitary measures to facilitate market access for Indian onions, milk and milk products, grapes, potatoes, bananas and pulses.

Significant progress was also made in improving market access for Indian pharmaceutical products, with Argentina committing to work towards upgrading India from Annex II to Annex I under its pharmaceutical regulatory framework and reducing entry barriers. Cooperation in Ayurveda and Yoga is also being strengthened through the existing memorandum of understanding between Argentina’s ANMAT and India’s Central Drugs Standard Control Organisation (CDSCO). Emerging areas including aviation, space technology, telecommunications and digital services were identified for further cooperation, particularly in 5G, artificial intelligence and digital infrastructure. The India-MERCOSUR Preferential Trade Agreement was also discussed, with progress on the Terms of Reference and adoption of digital certificates of origin expected to facilitate cross-border trade. The engagement was followed by the India-Argentina Business Forum, where the first and largest-ever Indian business delegation to Argentina, comprising more than 25 business leaders, explored opportunities across agriculture, minerals, energy, pharmaceuticals, healthcare, tourism, banking and telecommunications. The discussions are expected to support greater trade, investment and business-to-business partnerships between India and Argentina.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.