India–Latin America relations
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India–Latin America relations are relations between India and the countries of Latin America. Trade is the main factor in India-Latin America relations.[1] Latin America is India's fifth-biggest trading partner (if treated as one country).[2]
History
Before India's independence in 1947, contact between India and Latin America was minimal. A few Indians came into Latin America during this time period due to the
In the first 50 years after India's independence, ties between India and Latin America remained minimal;
In the 21st century, India-Latin America relations have increased significantly.
India signed a Preferential Trade Agreement (PTA) with Mercosur in 2004.[14] Peru, Chile and Colombia have expressed interest in signing or have expanded their PTAs with India in recent decades.[15]
India and China are sometimes analyzed as competing for engagement with Latin America;[12][16] Indian FDI in the region is around $12-16 billion, while Chinese FDI is worth $159 billion.[17] India-Latin American trade peaked at $50 billion in 2022,[2] and is projected to reach $100 billion by 2027.[18] Latin America receives 1/3rd of India's car exports,[19] while India seeks energy and food security through Latin America.[20] Weak transport capability and above-average tariffs are said to be significant factors holding India-Latin America trade back.[21]
See also
References
- ^ Seshasayee, Hari (2020). The ebb and flow of India-Latin America ties : exploring opportunities with Colombia. ALADI.
- ^ a b "Redrawing India-Latin America Relations in the 21st Century". orfonline.org. Retrieved 2024-05-17.
- ^ "The First Asians in the Americas: A Transpacific History | Center for the Humanities at Tufts | Tufts University". humanities.tufts.edu. Retrieved 2024-05-18.
- ^ "India and Latin America: Distant Acquaintance, Rhetorical Solidarity, Strategic Engagement". academic.oup.com. Retrieved 2024-05-18.
- ^ Desai, Ronak D. "A New Era For India-Latin America Relations?". Forbes. Retrieved 2024-05-18.
- ^ "India and Latin America Trade - Economic Ties Latin America and India". Americas Quarterly. Retrieved 2024-05-17.
- .
- ^ Krishnankutty, Pia (2023-11-27). "How India is boosting its strategic & economic ties with distant Latin America, Caribbean". ThePrint. Retrieved 2024-05-17.
- .
- ProQuest 906073007.
- ^ Seshasayee, Hari (19 April 2023). Redrawing India-Latin America Relations in the 21st Century (PDF) (Report).
- ^ a b "India vs. China in Latin America: Competing Actors or in Separate Leagues?". thediplomat.com. Retrieved 2024-05-17.
- ^ Destradi, Sandra; Küssner, Eva (2013). Go South! India 'Discovers': Africa and Latin America (Report).
- ^ Mishra, Shashank Mattoo,Ravi Dutta (2023-04-13). "India, Latin America in talks to expand preferential trade agreement". mint. Retrieved 2024-05-17.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "India and Latin America: Where ignorance is not bliss". orfonline.org. Retrieved 2024-05-17.
- ^ "Latin America and the Asian Giants". Brookings. Retrieved 2024-05-17.
- ^ "What's Ahead for India and Latin America?". Americas Quarterly. Retrieved 2024-05-17.
- ^ "'India from Latin America' takes a fresh look at India's economic development". The Week. Retrieved 2024-05-17.
- ^ "Record trade of Latin America with India, but mainly commodities for industrial goods". MercoPress. Retrieved 2024-05-17.
- ^ "Latin America and India add value to each other in business and beyond…". Financialexpress. 2023-04-19. Retrieved 2024-05-18.
- ^ "IDB | New IDB study calls for more trade, cooperation between India and Latin America". www.iadb.org. Retrieved 2024-05-17.