Strengthening South-South Ties: India and LAC's Collaborative Vision
Source: dairynews.today
The 10th CII India-LAC Conclave in New Delhi emphasized enhancing bilateral relations and economic cooperation across multiple sectors to bolster ties between India and the Latin America and Caribbean region.
Closer bilateral and multilateral relations between the Latin American and Caribbean (LAC) countries, such as Cuba, and India would improve relations amongst countries in the Global South, stated Dr. Eduardo Martinez Diaz, Deputy Prime Minister of the Republic of Cuba, at the 10th CII India-LAC Conclave held in New Delhi on March 19-20, 2025.
He spoke during the inaugural session on "Facilitating India-LAC Trade Relations: The Way Forward," emphasizing collaboration in sectors like agriculture, food security, ICT, and renewable energy.
Cuba's role as a founding member of the International Solar Alliance was highlighted as a means to foster renewable energy cooperation.
Pabitra Margherita, Minister of State for External Affairs for India, emphasized India's commitment to strengthening ties with LAC, with a focus on seven pillars of cooperation, as outlined by Prime Minister Narendra Modi: capacity building, agriculture and food security, renewable energy and climate change, innovation, technology & trade, cultural exchanges, ocean economy, and healthcare.
Commerce Secretary of India, Sunil Barthwal, shared aspirations to double trade between India and LAC to USD 100 billion, addressing challenges such as tariffs and regulatory barriers. Hiroshi Wago Rojas from the CAF - Development Bank of Latin America encouraged enhanced dialogue for resilient and inclusive trade. Jai Shroff from the Confederation of Indian Industry (CII) advocated for a focus on food security, energy security, and environmental sustainability.
Emphasis was placed on connectivity, digital solutions, and SMEs' involvement in bolstering the India-LAC partnership.
Two Memorandums of Understanding were signed to further cooperation: one between CII and CAF, and another with Fecomércio-GO, Brazil. These agreements signify a prosperous trajectory for India-LAC economic cooperation.
He spoke during the inaugural session on "Facilitating India-LAC Trade Relations: The Way Forward," emphasizing collaboration in sectors like agriculture, food security, ICT, and renewable energy.
Cuba's role as a founding member of the International Solar Alliance was highlighted as a means to foster renewable energy cooperation.
Pabitra Margherita, Minister of State for External Affairs for India, emphasized India's commitment to strengthening ties with LAC, with a focus on seven pillars of cooperation, as outlined by Prime Minister Narendra Modi: capacity building, agriculture and food security, renewable energy and climate change, innovation, technology & trade, cultural exchanges, ocean economy, and healthcare.
Commerce Secretary of India, Sunil Barthwal, shared aspirations to double trade between India and LAC to USD 100 billion, addressing challenges such as tariffs and regulatory barriers. Hiroshi Wago Rojas from the CAF - Development Bank of Latin America encouraged enhanced dialogue for resilient and inclusive trade. Jai Shroff from the Confederation of Indian Industry (CII) advocated for a focus on food security, energy security, and environmental sustainability.
Emphasis was placed on connectivity, digital solutions, and SMEs' involvement in bolstering the India-LAC partnership.
Two Memorandums of Understanding were signed to further cooperation: one between CII and CAF, and another with Fecomércio-GO, Brazil. These agreements signify a prosperous trajectory for India-LAC economic cooperation.
