On the third day of the Raisina Dialogue 2025 in New Delhi, Minister of State for External Affairs Pabitra Margherita reaffirmed India’s commitment to strengthening partnerships with Latin American and Caribbean (LAC) nations. He emphasized that India supports a multipolar world and prioritizes collaboration with the Global South.
Margherita stated, “We in India believe that in order to build an inclusive and just order, it is imperative to forge strong partnerships with the developing world.” He stressed that LAC nations play a crucial role in India’s diplomatic and economic strategies.
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Expanding Cooperation with LAC Nations
India has been actively engaging with LAC countries, especially after Prime Minister Narendra Modi’s visit to Guyana for the second India-CARICOM summit. Margherita highlighted key areas of cooperation, including capacity building, agriculture, food security, renewable energy, climate change, innovation, technology, and trade.
Building on this momentum, he visited The Bahamas, Barbados, and Nicaragua to advance these discussions. He noted, “There is great potential for boosting economic cooperation, increasing trade and investment, and strengthening people-to-people ties between India and LAC nations.”
Growing Trade and Investment
India’s trade with LAC countries has grown significantly. Margherita revealed that bilateral trade reached $35.73 billion in the 2023-24 financial year. He explained, “There is a high level of complementarity between our economies. India’s demand for natural resources and agricultural products can be met through imports from LAC, while India can serve as a trusted source of consumer products.”
India has also expanded its presence in the LAC pharmaceutical sector. Margherita noted, “Our pharmaceutical industry has significantly strengthened its footprint in the region.” He also highlighted India’s growing trade partnerships, stating, “India is the fifth-largest trading partner of Brazil and Argentina.”
Advancing Energy Security and Sustainable Development
India has made strategic resource acquisitions in LAC. Margherita shared, “India signed an agreement with Argentina for the first-ever overseas acquisition of lithium resources, leasing five lithium blocks for exploration and extraction.”
He also emphasized that Latin America’s rich reserves of oil, natural gas, and minerals could help India diversify its energy sources. Moreover, India and LAC nations are collaborating on biofuels and ethanol production. He added, “Our cooperation in biofuels is opening new pathways for sustainable energy solutions.”
Technology, Infrastructure, and Development Projects
India is helping LAC nations advance in technology-driven development. Margherita pointed out, “Many LAC countries are actively participating in Indian initiatives like the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, and Mission LiFE.”
Additionally, India is expanding its digital infrastructure in the region. He shared, “Trinidad and Tobago have already adopted India’s Unified Payments Interface (UPI), and efforts are underway to introduce UPI in Guyana, Peru, and Jamaica.”
India has also funded several development projects in LAC, including healthcare initiatives in Suriname, St. Vincent and the Grenadines, Trinidad and Tobago, St. Kitts and Nevis, the Dominican Republic, and Barbados. Furthermore, India has provided a $23.37 million line of credit for two aircraft to Guyana and is financing a major power transmission project in Nicaragua.
Cultural and Educational Ties
India and LAC share deep historical ties. Margherita recalled, “Our connection goes back centuries to the arrival of Indian indentured laborers in the Caribbean. These emotional and cultural bonds can help strengthen our relations.”
Prime Minister Modi recently suggested creating a comprehensive database of the Indian diaspora in LAC. Margherita explained, “This initiative will enhance engagement with Indian-origin communities in the region.”
India also prioritizes education and academic collaborations. Many students from LAC nations receive Indian scholarships and training in IT, medicine, and engineering. Margherita noted, “These programs help students gain expertise and contribute meaningfully to their nations.”
Margherita expressed optimism about future collaborations. He concluded, “There is immense potential for new opportunities and lasting partnerships between India and LAC. With our shared heritage and deeper understanding, our cooperation will only grow stronger.”
