Energy, critical minerals, trade, and defence top the agenda as PM Modi is heading to Argentina in third leg of his five-nation visit.
Prime Minister Narendra Modi’s upcoming visit to Argentina this week marks a pivotal moment in India’s growing engagement with Latin America, as both nations look to deepen cooperation across energy, critical minerals, defence, and trade. The visit—scheduled for July 4–5—will be the first bilateral trip by an Indian Prime Minister to Argentina in 57 years, underscoring a renewed strategic focus on the region.
Ahead of the visit, Argentine Ambassador to India, Mariano Caucino, reaffirmed Buenos Aires’ commitment to strengthening ties with New Delhi. Speaking to ANI, the envoy highlighted Argentina’s desire to push for reforms within the Mercosur trading bloc and collaborate more closely with India in the fight against terrorism, economic development, and energy transition.
“There is a common understanding that Mercosur needs to reform, it needs to open, it needs to connect to the world,” Ambassador Caucino said. “We are convinced that India is a major player in the world. India has a great future, and we hope to collaborate with our Mercosur partners to advance in this field.”
The visit comes as Argentina undergoes major economic reforms under President Javier Milei, drawing comparisons with India’s own liberalisation efforts in the 1990s. Officials from India’s Ministry of External Affairs (MEA) have emphasised that this convergence offers a unique opportunity to align development goals and leverage mutual strengths.
According to MEA Secretary (East) P. Kumaran, Prime Minister Modi’s discussions with President Milei will centre on economic and strategic issues, including defence cooperation, renewable energy, and technology transfers. “India’s advancements in defence manufacturing, the space sector, information technology, and Digital Public Infrastructure (DPI) can offer valuable expertise to Argentina,” he said, adding that India’s experience in telemedicine and digital health solutions could also help Argentina expand healthcare access and lower delivery costs.
India and Argentina formalised a Strategic Partnership in 2019, and the two countries celebrated 75 years of diplomatic relations in 2023. Over the past five years, bilateral trade has grown significantly. In 2024, trade volumes reached USD 5.23 billion, up 33 per cent year-on-year, with India ranking as Argentina’s fifth-largest trading partner. Argentina is also a key supplier of edible oils to India, particularly soybean and sunflower oil.
However, the scope of cooperation has now expanded well beyond food commodities. Argentina’s mineral wealth—particularly lithium, copper, and rare earth elements—is of growing importance to India’s clean energy ambitions. The two countries signed an MoU on mineral resource cooperation in August 2022, and the first Joint Working Group meeting under the agreement took place in January 2025.
“Argentina holds the world’s second-largest shale gas reserves and the fourth-largest shale oil reserves, along with substantial conventional oil and gas deposits. This makes it a potentially significant energy partner for India,” Kumaran said. “India’s public sector company KABIL has already secured several lithium concessions in Argentina since 2024. Our leaders will be discussing further steps in this area.”
Ambassador Caucino also confirmed that Argentina has proposed LNG exports to India and is eager to boost Indian investment in Argentina’s energy and mineral sectors. “We want to enhance cooperation in agriculture, energy, and critical minerals,” he said.
Another key focus will be the defence relationship. While still nascent, Argentina has shown interest in India’s growing defence production capabilities, particularly in areas such as indigenous aircraft and missile systems. The two leaders are expected to explore pathways for joint development, training, and technology transfers.
The Argentine envoy also reiterated his country’s solidarity with India in its fight against terrorism. Condemning the recent terror attack in Pahalgam, Jammu and Kashmir, Caucino said, “Terrorism is unacceptable in any form. We have to take into account those states that promote or hide terrorism, and we are with India in this case.”
He added that Argentina’s painful experiences with terrorism—referring to the 1992 Israeli Embassy bombing and the 1994 AMIA Jewish Centre attack in Buenos Aires—offer a shared perspective with India. “I was among the first ambassadors in India to convey this message,” he said.
During his two-day visit, PM Modi is expected to pay homage at the statue of General José de San Martín, Argentina’s revered national hero, and participate in ceremonial events and delegation-level talks. President Milei will host a luncheon in his honour.
India’s outreach to Argentina is part of a broader Latin America strategy, with the Prime Minister also visiting Trinidad and Tobago, Ghana, Brazil, and Namibia on the same tour. Argentina, the third stop, is viewed as a critical partner in India’s plan to diversify its trade ties, secure essential raw materials, and expand strategic influence in the Global South.
“The fact that the leader of the world’s fifth-largest—and soon to be fourth-largest—economy is visiting Argentina is extremely important for our region,” said Ambassador Caucino.
As both sides prepare to elevate ties to a new level, this historic visit is expected to set the tone for long-term cooperation across a wide spectrum—from minerals to markets, and from defence to diplomacy.
