Business Council launched to expand business with India

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Business Council launched to expand business with India




The Minister of Production Matías Kulfas and the Ambassador of India, Dinesh Bathia


© Provided by Clarín
The Minister of Production Matías Kulfas and the Ambassador of India, Dinesh Bathia


The Government launched its agenda to deepen ties with India: this week the Minister of Productive Development, Matías Kulfas and Ambassador Dinesh Bhatia, presented the India-Argentina Business Council, made up of companies and chambers from both countries.

Among the 26 companies and chambers that currently make up the Council are the Argentine Industrial Union (UIA), the Argentine Rural Society (SRA), the Chamber of the Oil Industry of the Argentine Republic (Ciara), the Argentine Chamber of Commerce and Services ( CAC), Globant, Techint, Los Grobo, Invap, Impsa, OLX, Glenmark Pharma, among other local and Indian firms.

Although in 2019 the operations between Argentina and India reached a figure record $ 3.09 billion -Bilateral trade doubled in ten years and India was in 2019 the seventh largest partner of this country- exports to the Asian country are still too concentrated in few products, especially derived from soybeans.

“We have the responsibility to develop the enormous potential that exists in commercial matters between Argentina and India, for the benefit of both nations,” said Kulfas at the opening ceremony of the business Council, while inviting them to work together with the private sector to promote new channels of economic exchange.

“India has the potential to be an important partner for Argentina also in terms of investment,” added Kulfas, who highlighted for these purposes the pharmaceutical sectors; knowledge economy; clean energy, especially solar and wind; of satellite industry; nuclear power and motorcycle manufacturing.

For his part, Bhatia assured that after his arrival in the country fourteen months ago, Argentina “fell in love” and highlighted the similarities between the two nations, especially because “they are members of the G20 with populations that grow at similar rates with a percentage of young people who represent more than 40% in both countries “.

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