India proposes deeper ties with Latin America amid growing Chinese Influence
New Delhi, Aug 3 (EFE).- Indian Foreign Minister Subrahmanyam Jaishankar on Thursday pitched for deeper ties with Latin America and Caribbean nations to increase India’s influence in regions already explored by China.
Jaishankar proposed an expansion of ties based on supply chain diversification, resource sharing, development partnerships, and collaboration to face global challenges like climate change and food insecurity.
The Indian foreign minister outlined the four pillars of the roadmap at the inauguration of the 9th edition of the conclave between India and Latin America and the Caribbean (India-LAC).
Jaishankar expressed India’s willingness to start talks to facilitate the mobility of citizens.
He said he would visit Cuba next month, but he did not specify the date.
“Since Prime Minister (Narendra) Modi took office in 2014, our ties with Latin America and the Caribbean have moved on a new trajectory,” Jaishankar said at the forum with government representatives from several Latin American and Caribbean countries.
He highlighted that bilateral trade surged close to $50 billion during the financial year 2022-2023.
“It is a testament to both the strength and the potential of our economic partnership.”
He noted that India’s exports to Brazil, for example, stand at $10 billion, almost twice that of what India exports to Japan.
He also mentioned that Indian exports to Mexico were in excess of $5 billion, more than its exports to Canada.
“It is safe to assert a figure of about $15 billion as the investment today of Indian companies in this region, reflecting the high levels of interest that Indian businesses have in the area.”
India, which chairs the G20 this year, has promoted itself as “the voice of the Global South” to lead the development of emerging economies and promote change within multilateral organizations. EFE
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