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Prime Minister Narendra Modi left for a two -day Argentina tour late on Friday night. This is Modi’s second Argentina tour after becoming PM. Earlier, he went to participate in the G20 Summit in 2018.
There will be bilateral talks between PM Modi and Argentina President Xavier Xavier Milei on Saturday. Apart from this, he will address people of Indian origin.
During Modi’s visit, Defense, Agriculture, Energy, Nuclear Cooperation, Business and Investment can be discussed between Indo-Argentina during Modi. Agreement on lithium supply is also possible in both countries.
Argentina has the third largest lithium reserves in the world. Modi is on a trip to 5 countries from 2 July to 10 July. They will reach Argentina after Ghana, Trinidad and Tobago. After this, his next stop is Brazil.
Modi’s visit schedule in Argentina
5 July:
- Argentina President Xavier will meet Milei.
- Will take part in the Indo-Argentina Business Summit 2025.
- Will sign important agreements.
- Will attend a cultural program with people of Indian origin
6 July:
- Argentina will hold a meeting with the Foreign Minister, Business Minister, and Energy Minister.
- Lithium and liquid can compromise on issues such as supply of natural gas (LNG).
- Will leave for Brazil, where he will attend the BRICS summit.
About 3 thousand Indian migrants in Argentina
About 3 thousand Indian migrants live in Argentina. Both countries are working on increasing cooperation in the defense sector. Military joint exercises and equipment were discussed between the two countries in February 2025.
India and Argentina are members of G20, G77 and United Nations. In 2023, Argentina appreciated India for hosting the G20 Summit and supported the African Union (AU) to be membership in the G20.
Business of ₹ 53 thousand crore between India-Argentina India is the fourth largest business partner in Argentina. Between 2019 and 2022 between the two countries, bilateral trade has increased to US $ 6.4 billion (Rs 53 thousand crore).
India exports petroleum oil, agricultural chemicals and two -wheelers to Argentina, while India imports vegetable oils (such as soybean and sunflowers), leather and grains from Argentina.
The two countries also emphasize cooperation in peaceful nuclear programs and energy. Argentina, India’s Nuclear Suppliers Group (NSG) supports membership. India applied for NSG membership in 2016.
Two big agreements have been made between India-Argentina regarding lithium On January 15, 2024, India signed an agreement with Argentina for Lithium Mining Mining.
Under this agreement costing Rs 200 crore, India’s government company Minerals Foreign India Limited (Kabil) will be allocated five lithium brine blocks in Argentina.
The two countries have signed an agreement (MOU) on February 19, 2025 to find lithium and increase cooperation in mining. India is still dependent on China for lithium. This agreement was done to reduce dependence on China.
Argentina insolvency 9 times in 100 years Argentina was one of the 10 largest economies in the world in the early 20th century. It was also ahead of Canada and Australia. Despite this, Argentina has failed to repay her debt 9 times since independence from Spain in 1816.
From 1930 to 1970, the government increased tariffs on imports to reduce dependence on imports, increase self -reliance and improve the country’s economic condition.
This had the worst impact on farming. Due to reduced import, there was a shortage of grain in the country, causing starvation conditions in the 1940s-50s.
Government spending and foreign debt rose by 75% during dictatorship in the 1980s. The prices of things needed reached 5000%. Bread, milk, and rice, were the most affected by this terrible inflation.
According to the World Bank, Argentina is the third largest economy in Latin America, with GDP of $ 474.8 billion (about 40 lakh crore rupees) and GDP per capita 12 thousand dollars (Rs 10 lakh) per person. Despite this, this country is struggling with economic instability.
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