Posted on 07/06/2025 12:09:31 AM PDT by Cronos
Prime Minister Narendra Modi and Argentine President Javier Milei on Saturday agreed to diversify India-Argentina trade basket and vowed to expand cooperation in a range of critical areas such as defence, security, energy and minerals. In their wide-ranging talks, the two leaders emphasised on boosting defence cooperation between the two countries as it will serve each other's strategic interests.
PM Modi arrived in Buenos Aires on Friday on a two-day trip in the third leg of his five-nation tour. Though PM Modi visited Argentina in 2018 to attend the G20 Summit, it is the first bilateral visit to the South American country by an Indian prime minister after a gap of 57 years. In a social media post, PM Modi said he and President Milei discussed ways to diversify trade ties and enhance cooperation in sectors such as agriculture, defence, security and energy. "There is immense scope in areas like pharmaceuticals and sports as well," he said.
The prime minister described his meeting with Milei as "excellent". "We are marking 75 years of India-Argentina diplomatic relations and 5 years since we elevated our relationship to a Strategic Partnership. We have covered significant ground in our bilateral relations, but we agree that the journey ahead is even more promising," the prime minister posted on X.
What PM Modi-Milei bilateral talks mean for India Secretary (East) in the Ministry of External Affairs Periasamy Kumaran said the two leaders agreed to enhance India-Argentina collaboration across a range of sectors, including trade and commerce, technology, defence, space, health and pharmaceuticals. The partnership is expected to support India’s broader ambition of emerging as a major defence exporter.
PM Modi and Milei also agreed to further deepen the strategic partnership, he said adding they discussed the necessity to expand and diversify trade. At a press conference, Kumaran said Prime Minister Modi sought Argentina's support in expanding the India-MERCOSUR trade agreement, noting that it could deepen trade ties between the two nations as well.
The preferential trade agreement (PTA) is aimed at expanding economic ties between India and the MERCOSUR bloc that includes Argentina, Brazil, Paraguay, and Uruguay.
India vows to enhance agri market access PM Modi and Milei also underlined the need to enhance access for agricultural products in each other's markets and issued instructions to respective officials to set up a joint working group on agriculture. The relationship between the two countries was elevated to a strategic partnership during the visit to India of the then Argentine President Mauricio Macri in February 2019.
The two sides have been cooperating in several key areas such as trade, defence, critical minerals, oil and gas, nuclear energy, agriculture, culture and technology. India and Argentina have significant cooperation in the mineral resources sector, particularly in lithium -- a critical input for India's green energy transition.
An MoU on cooperation in the field of mineral resources was signed in August 2022. The first meeting of the joint working group set up under the framework of the MoU was held in January.
India-Argentina trade relations The India-Argentina bilateral trade has been on an upswing. The trade volume more than doubled in three years from 2019 to 2022, peaking at USD 6.4 billion in 2022. In 2021 and 2022, India was Argentina's fourth-largest trading partner. In 2024, total annual bilateral trade between India and Argentina was USD 5.23 billion, positioning India as Argentina's fifth-largest trading partner and export destination
Argentina is the dark horse of shale. There’s an area to its western region called the Vaca Muerto that evolved into a rebellious configuration against the IMF. This is the depth to BRICS.
Argentina at one time created its own, by decree, price of oil. By specifying its own price of oil, the cost of fracking could be endured and production forced to rise. That was a few years ago in the same time frame as the covid induced negative $20 oil price. Salaries for the workers could be defined internally just like the price of oil was defined internally.
Then Argentina informed the IMF they would not be repaying the loans and invited the IMF to attempt any seizure that it wished to try in the absence of any military troops commanded by the IMF.
Gas output has grown sharply and Argentina quietly made clear they intended to supply South America, which would wipe out an LNG market for the United States. Pipelines are always easier and cheaper than LNG terminals. China and Russia have become involved in financing the pipelines in question while American influences tried to obstruct it.
The superiority of pipelines over LNG has so far told the tale. India pumps about 1 million barrels per day domestically and consumes five. They have coal and use it for electricity. Obviously there can be no pipeline for gas from Argentina to India but India has LNG terminals already.
In a general sense this event of more closely aligning India with Argentina is a pro BRICS development and mildly anti-American.
I’ve heard some talk about that going on. Can’t say I blame them since no country can feel safe using the US Dollar as a reserve currency after the Hormone-Crazed Women of the Biden Administration weaponized it against Russia.
We’re easily the safest currency in the world...
“We’re easily the safest currency in the world...”
Americans may think that, but the BRICS sure don’t.
“Americans may think that, but the BRICS sure don’t”
Hey, Bob, which currency do you keep your retirement savings in? It should be one of the BRIC currencies, right?
There’s many advantages being a reserve currency... that’s what they’re after.
My Doctor is from India. He’s excellent...a little dry...but was able to engage him with some local history...which perked him up...and he told me about the history of the Med Center where I go.
Pipelines are always easier and cheaper than LNG terminals.
**India with Argentina is a pro BRICS development and mildly anti-American.**
Understood. Milei is a libertarian like Rand. That means from time to time he’ll irritate us.
What does defense have to do with it? The Falklands? The US should ‘lease’ the islands from the Brits and turn it into a ‘sheep’ Alcatraz. A 99 year lease so that the locals will have time to move-not worth the defense upkeep. The lease will allow the limeys to save face. You know the Monroe thing.
sounds like argentina is about to get diversified with some H1B invaders
“muh free trade” “muh corporation”
If you want start another disputed Island Alcatraz it would be easier to restart one which once had 1000s of prisoners at multiple prison camps. And was arguably on US land; although State punted the argument we’d discovered it: Wrangel Island. Vlad’s team has massive experience on the subject and needs foreign exchange. His old gulags need some work, but likely are fixable on a DC budget. And it’s much closer to US.
Pipelines are always easier and cheaper than LNG terminals.
If you have flat country with easy digging and political control, that may be true. Argentina has lots of mountains and political borders to overcome to supply South America with LNG by pipeline.
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Misunderstanding. If you can have a pipeline, you do not need LNG. Liquified Natural Gas becomes liquified by cryocooling it to extremely low temps. Then you pump it into tanks on a ship and transport it to an LNG terminal where it is offloaded. warmed up, and sent by pipe domestically to users (often electricity generating plants).
If you can have a pipeline to another country that then distributes it domestically, as above, you export to that country in the pipeline, without ever cooling it down to liquid form.
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