Prime Minister Narendra Modi and Argentine President Javier Milei held important talks in Buenos Aires on Saturday night. Their meeting focused on expanding ties across several critical areas, including defence manufacturing, space, critical minerals, shale gas, pharmaceuticals, digital payments, and telemedicine.
This marked the first bilateral visit by an Indian Prime Minister to Argentina in 57 years. Modi had last visited Argentina in 2018 during the G20 Summit. On his arrival at Ezeiza International Airport earlier in the day, he received a warm ceremonial welcome.
Delegation-Level Talks and Tribute
Following his arrival, PM Modi paid tribute to General Jose de San Martin, a national hero of Argentina. Afterwards, he and President Milei held delegation-level discussions, followed by a lunch hosted in Modi’s honour.
Agreements Across Multiple Sectors
Both sides agreed to set up a joint working group on agriculture and look into cooperation in drones and defence production. India also offered technical help in maintaining Argentina’s military helicopters and proposed new military platforms for collaboration.
Trade and Market Access
In the area of trade, PM Modi urged Argentina to support expanding the India-MERCOSUR trade pact. MERCOSUR includes Argentina, Brazil, Paraguay, and Uruguay. Modi also asked for better access for Indian medicines in the Argentine market.
To support this, India recommended that Argentina upgrade India’s status from Annex II to Annex I in its pharmaceutical classification system. In response, Argentina shared details of its fast-track approval system for Indian medicines.
Digital and Financial Collaboration
Digital cooperation also took center stage. PM Modi highlighted the success of India’s Unified Payments Interface (UPI). President Milei showed strong interest in adopting UPI. He believed it could help Argentina’s central bank manage monetary policy more effectively.
Clean Energy and Critical Minerals
Both leaders discussed the importance of lithium, a vital resource for India’s clean energy goals. India and Argentina had already signed a memorandum of understanding (MoU) on this in August 2022. The first meeting under this MoU took place in January.
A Growing Partnership
India and Argentina officially upgraded their ties to a strategic partnership in 2019, during then-President Mauricio Macri’s visit to India. Since then, the relationship has grown steadily.
Bilateral trade has more than doubled from 2019 to 2022, peaking at $6.4 billion. In 2024, total trade stood at $5.23 billion, making India Argentina’s fifth-largest trading partner.
Modi Honoured in Buenos Aires
After the talks, Modi received the Key to the City of Buenos Aires from Mayor Jorge Macri, recognising the deepening ties between the two nations.
In a post on X, Modi wrote, “Excellent meeting with President Javier Milei of Argentina. 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, but we agree the journey ahead is even more promising!”