India and Latin America are poised for significant economic expansion, with bilateral trade projected to reach US$ 100 billion by 2030 through deeper commercial and investment cooperation.

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• Trade between India and Latin America is expected to increase from US$ 50 billion currently to US$ 100 billion by 2030.
• Uruguay Ambassador Alberto Antonio Guani Amarilla highlighted Latin America’s growing importance as a strategic economic partner for India’s development journey.
• The projection was shared during the LAC FIRST: India-Latin America and Caribbean Business and Diplomatic Conference.
• Both regions see substantial opportunities to strengthen cooperation across manufacturing, agriculture, pharmaceuticals, mining and other productive sectors.
• Uruguay welcomed India’s decision to establish a new embassy in the country, expected to further enhance diplomatic and economic engagement.
• The ambassador called for expanding the India-Mercosur Preferential Trade Agreement from approximately 450 products to nearly 3,000 products.
• Minerals, agro-industries and pharmaceuticals were identified as key sectors driving future growth in bilateral trade and investment.
• Expanding economic ties are expected to improve market access, strengthen supply chains and encourage long-term business partnerships between both regions.